US President Donald Trump has called BRICS a 'dead' organization. America has always had objections to BRICS. America believes that the expansion of BRICS is against America and the G7 countries. China's influence is constantly expanding in BRICS. However, India denies this.
In the meeting of Prime Minister Narendra Modi with Donald Trump, who won the US presidential election last year, many issues were discussed. In which Donald Trump talked about many issues including American stealth fighter jets to India, American oil. During this, the US President has declared BRICS, an organization in which India is a member, as a dead organization. US President Donald Trump has strongly targeted BRICS regarding de-dollarization and declared it a 'dead' group. Donald Trump has said that "BRICS is dead."
Trump Accused BRICS group
Apart from this, Trump has also accused the BRICS group of working with 'bad intentions'. Getting angry at BRICS, the US President has claimed that he has told the BRICS countries that if they want to "play with the dollar, then 100% tariff will be imposed on them." Apart from this, Donald Trump has warned the BRICS countries that "The day I told them this (about tariffs) they will come back and say, we request you, we request you. Since then I have said this, BRICS is dead." Let us tell you that apart from India, the BRICS countries include Brazil, China, Egypt, Russia, Indonesia, Iran, South Korea and the United Arab Emirates. These countries are working on a currency system that will make it easier for them to do business. Russia and China are playing the most important role in this work. Recently, India has also started doing business in rupees with some countries.
What is Donald Trump afraid of?
Donald Trump is afraid of the fall of the US dollar. The BRICS countries are expanding. Developing countries are being included in it. If these countries are able to find an alternative to the dollar, it will have a direct impact on the US dollar. Currently, all these countries use the US dollar for international trade. But the strict US sanctions on Russia have forced the BRICS countries to think. The 10 countries included in BRICS represent a quarter of the global economy. Apart from this, half of the world's total population lives in BRICS countries. But the reality with BRICS is that China dominates this organization and it wants to use BRICS against western countries.
BRICS seems to beat the G-7
The US fears that the expansion of BRICS poses a serious threat to the US dollar. The expansion of BRICS and its constantly changing purpose can intensify the rivalry between its member countries and the liberal economy of the West. In BRICS summits, there is now talk of rapid expansion, which is a direct challenge to the SWIFT international payment network. SWIFT is the global standard for bank transactions, which are largely in US dollars. BRICS is also considered a response to the unilateral decisions taken by the G-7 countries. In fact, BRICS seems to beat the G-7 on many parameters. While BRICS holds 35 percent of the global GDP, the G7 has only 30 percent. Therefore, the US considers BRICS a challenge.
The aggressive attitude of the US towards BRICS has given a blow to the BRICS countries. But Trump's aggressive attitude can intensify this conflict. The BRICS countries may continue to insist on creating an alternative currency. Therefore, there may be a possibility of conflict erupting between America and BRICS countries in the future.