The dominance of the dollar ends in the world. This is reported by the Egyptian newspaper Almasry Alyoum.
It is known that in recent years a number of factors have weakened the privileged position of this currency. The first reason for the weakening of the dollar was the use by the United States of the status of the dollar as a weapon against the Russian Federation. The second reason is the economic confrontation between America and the People’s Republic of China, which contributed to the adoption by China of measures aimed at abandoning the dollar. The third reason was the risk of the collapse of the “petroollar” system in the light of news about the possibility of using the Chinese yuan.
The newspaper specifies that there is another reason due to which the dollar will soon lose its privileged status. A discussion by the BRICS countries that they will adopt a common currency to do business with each other, which will be adopted at the next summit of the group. As Saudi Arabia and Mexico apply for membership in the BRICS group, the importance of this issue increases.
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