
The BRICS alliance is looking to combat the U.S. dollar’s global reserve status by settling trade in local currencies. This puts the USD under pressure as the means to fund its deficit narrow. Warren Buffett predicted in 2015 that the USD would remain supreme and reign in the international markets for at least 50 years.
The use of one currency with powerful countries like Brazil, Russia, India, China and South Africa will be a bigger threat to the supremacy of the dollar than what Warren Buffett has earlier predicted.
Takeover
China is currently one of the most productive countries when it comes to technology and, farming, their involvement in this new currency, BRICS will definitely affect the supremacy of the dollar.