In recent years, the topic of de-dollarization has gained increasing attention in global financial discussions. De-dollarization refers to the process of reducing dependence on the U.S. dollar (USD) in international trade, foreign reserves, and investment. While the dollar has historically been the dominant global currency, this trend has been gaining
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Legal Ramifications for BRICS Member States Controlled by Dictatorships, Such as Cuba
The BRICS (Brazil, Russia, India, China, and South Africa) bloc, initially formed to enhance the economic and political influence of emerging markets, faces significant challenges due to the varying political systems of its member states. Among these, Cuba stands out as a nation under the control of an authoritarian regime,
Financial Stability: Legal Measures to Safeguard Consumers Amid Rising Risks in US Banking
The US banking system, often seen as a pillar of financial stability, is currently facing a significant challenge, this is especially true as of late. According to recent reports from the Federal Deposit Insurance Corporation (FDIC), unrealized losses in the banking system have surged once again, now estimated at over
BRICS vs. U.S. Dollar: Global Laws to Safeguard the World Economy
The global financial system has long been dominated by the U.S. dollar. Since the Bretton Woods Agreement in 1944, the dollar has served as the world's primary reserve currency, facilitating global trade, investments, and financial stability. However, in recent years, the BRICS nations—Brazil, Russia, India, China, and South Africa—have increasingly
The End of the Petro-Dollar Era: How Politics Shaped the Future of Global Finance
For decades, the U.S. dollar has been the undisputed king of global finance, with one of the most significant pillars of its dominance being the so-called "petro-dollar" system. This economic arrangement, born out of the convergence of oil and politics in the mid-20th century, played a critical role in maintaining