Republican Representative Marjorie Taylor Greene has stated that the rise of the BRICS (Brazil, Russia, India, China, and South Africa) economies poses a threat to the dominance of the US economy and the US dollar. Speaking to her constituents in Georgia, Greene criticized President Joe Biden’s administration for neglecting the growing influence of BRICS. She argued that while the US is busy dealing with other matters, powerful countries are organizing themselves to challenge American economic dominance.
Greene highlighted that the BRICS countries are entering into serious trade agreements that enable them to bypass US sanctions and trade in their own currencies instead of the US dollar. This de-dollarization trend undermines the US economy and weakens the value of the dollar. According to Greene, this will have dire consequences for the American people, as their retirement plans and personal savings will be negatively affected. She expressed concern about a future where countries like Russia, China, and India have more buying power in their own currencies than the United States, which would have a significant impact on the US dollar’s value and global influence.
The Republican congresswoman’s remarks come after the recent BRICS summit in South Africa, where the group announced an unprecedented expansion by accepting six new member countries – Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. The admission of these countries solidifies BRICS as a global economic force that challenges the authority of Western-dominated international institutions.
In a declaration following the summit, BRICS reiterated its commitment to inclusiveness and support for the “legitimate aspirations” of African, Asian, and Latin American countries to have a more prominent role in the global arena. This reaffirms the group’s long-standing position as an alternative to Western-dominated economic structures.
The rise of BRICS has sparked concerns about the potential decline of the US economy and the US dollar’s influence. In response, Greene criticized the US government for focusing on issues like supporting Ukraine in its conflict with Russia while ignoring the larger trend of BRICS countries gaining economic strength and unity.
While some may dismiss Greene’s comments as politically motivated or exaggerated, her concerns about the de-dollarization trend and the rise of BRICS economies are shared by other experts. They argue that if more countries start bypassing the dollar and trading in their own currencies, the US may lose its economic dominance and face significant challenges in maintaining its global position.
In conclusion, Marjorie Taylor Greene’s assertion that the rise of the BRICS economies poses a threat to the US economy and the US dollar is a concern shared by experts. The ability of BRICS countries to bypass US sanctions and trade in their own currencies weakens the dollar’s value and undermines American economic dominance. As the BRICS group expands and solidifies its position on the global stage, it is crucial for the US to reassess its economic strategies and maintain its competitiveness in the face of emerging economic powers.