Trump warns of declining dollar hegemony in the world

  Former US President warned about the decline of the dollar era in the world. According to AAA, Donald Trump on Thursday said that the collapse of the dollar as the world's reserve currency is a more serious event than defeat in any war. He further added: "Our country is going to hell and we are not going to be big boys. We have power, but it is weakening. In fact, it is weakening in terms of our currency." Trump once again compared the United States to a third world country, calling for attention to the poor condition of roads and airports in the United States. Criticizing the policies of Joe Biden and the economic situation of the United States, he stated that inflation is caused by energy policies, which have a great influence on this issue.

The American magazine Foreign Policy also reported that the leaders of the BRICS countries (Brazil, Russia, India, China and South Africa) could have a common currency. This could easily challenge the dollar's power internationally and weaken it. In this regard, Joseph W., a senior consultant at the Lindsey Consulting Group in Washington, believes that the BRICS-backed currency can replace the US dollar as a reserve currency. The process of de-dollarization in the world has accelerated significantly after the administration of US President Joe Biden decided to impose extensive sanctions against Russia because of the war in Ukraine. In this regard, many countries intend to abandon the dollar in international settlements and trade relations, replacing it with national currencies in the region.