Has The Fall of The US Dollar Begun? Why India And China’s Rise Has Experts Sounding The Alarm | World News
New Delhi: According to American economist Gerald Celente, the long -standing dominance of the US dollar is beginning to wear, and developing economic forces such as India and China are constantly involved. He warns that the global financial power balance has changed, and BRICS (Brazil, Russia, India, China and South Africa) challenges US -led economic policies and international influence.
His statements come at a time when trade tensions increase between the US and BRICS nations. America has recently applied tariffs to Indian goods, 50% task was released in two stages, the first 25% was in force and the rest would be implemented as of August 27th.
The Trump administration justified the measures by continuously acquiring India’s Russian oil. Brazil was targeted with similar tariffs by deepening the diplomatic judgment.
Speaking at a podcast hosted by Cuba-American journalist Rick Sanchez, Celente said why India does not want to submit to the US pressure. He said that only 2% of India’s GDP is connected to trade with Washington and made the new Delhi less vulnerable to economic retaliation.
According to him, India is increasingly increasingly a stage in which the United States, which produced a great share of their property in the country, once became greatly dependent on global supply chains.
It has also been reflected in the transformation of China into a leader in production and technology in sectors such as electric vehicles, especially in sectors such as electric vehicles.
Western countries, initially helped the establishment of the industrial base of China, but now faced competition, he said. Like India, China is moving towards more self -sufficiency and reduces its confidence in external imports.
Clelente criticized Washington that America has seen as a tendency to dictate economic policy to other sovereign nations, arguing that Washington had no legitimate authority to influence the internal economic decisions of the independent states.
This extreme access believes that most of the world contributes to an increasing anger for US domination.
BRICS is currently represented more than 40% of the global population, while the scale of this change is important. India and China have approximately 1.4 billion citizens compared to the 347 million population of the United States. This demographic advantage is combined with the increasing trade in the block, and BRICS benefits to challenge the US financial system.
Celente foresees a gloomy future for the US Dollar, which describes the existing orbit as “the death of the dollar .. President Donald Trump attributes some of the decline to the US monetary policy decisions, including the 2018 interest rate deductions.
According to him, the American economy is on a slope and the weakening of the dollar already continues.
BRICS countries are actively working to reduce the dependence of dollar in international trade and are trying to skip Western -dominated financial institutions such as the International Monetary Fund and the World Bank.
If this trend persists, the celente warns, the role of the dollar as the world’s primary reserve currency may be reduced much earlier than Washington expects.
