Breaking News
  • Redhawks UIL Science takes 1st place as a team at state
  • Advisory is closed for the final three weeks of school
  • Graduation is Saturday, May 18 at 2 p.m. at the Ford Center
The student news site of Liberty High School in Frisco, Texas


The student news site of Liberty High School in Frisco, Texas


The student news site of Liberty High School in Frisco, Texas


Wingspan’s featured athlete for 5/9 is varsity football player, sophomore Connor Johnson.
Featured Athlete: Connor Johnson
Neta Even, Guest Contributor

Wingspan: What position do you play in football? Johnson:...

Wingspan’s featured athlete for 5/2 is varsity baseball player, sophomore Nathan Wixon.
Featured Athlete: Nathan Wixon
Neta Even, Guest Contributer

Wingspan: What is your favorite part about playing...

Wingspan’s Featured Athlete for 4/18 is tennis player, sophomore Anya Krishna (second from the left).
Featured Athlete: Vivianne Haggard
Ale Gonzalez, Sports Reporter

Wingspan: When and why did you start playing tennis? Haggard:...

View All
May 17 Daily Update
May 17 Daily Update
Karina Grokhovskaya, WTV Executive Producer • May 17, 2024

WTV's Ryan Shapiro, Karina Grokhovskaya, and Sadie Johnson bring you a few last words

International Insight: will BRICS derail U.S. dollar dominance?

Sindhuja Pannuri
From Europe to Asia, South America to Africa, and all the way to Australia, Wingspan staff reporter Sindhuja Pannuri provides her insight on international events in this weekly blog.

The recent BRICS (Brazil, Russia, India, China, and South Africa) convention has once again catapulted the alliance into the international spotlight. BRICS represents a formidable economic and political force that is reshaping the global landscape. A key topic of discussion at this year’s convention was the possible replacement of the U.S. dollar as the world’s primary international trade currency. It’s important to examine the implications of this discussion in the context of the convention and the evolving dynamics within BRICS.

The BRICS convention in Aug. 2023 was marked by a strong sense of unity and purpose among its member states. With its diverse and dynamic economies, the alliance is gaining increasing importance in international affairs. The convention provided a platform for these countries to discuss various economic and geopolitical issues, including their collective stance on the role of the U.S. dollar in international trade.

For decades, the U.S. dollar has been the world’s primary reserve currency, used in international trade and finance. This has given the United States significant influence over global economic affairs. However, recent economic and political developments have raised concerns among BRICS nations about the dollar’s dominance.

One of the key outcomes of the BRICS convention was a renewed commitment among member states to diversify their foreign exchange reserves and reduce their reliance on the U.S. dollar. This move is driven by several factors:

  1. Geopolitical Uncertainty: The global geopolitical landscape has become increasingly unpredictable. BRICS countries are concerned about the potential use of economic sanctions by the United States, which can disrupt their trade and financial systems.
  2. Currency Risk Mitigation: By reducing their dependence on the dollar, BRICS nations can mitigate the currency risk associated with fluctuations in the dollar’s value.
  3. Economic Sovereignty: BRICS countries are eager to assert their economic sovereignty and reduce their vulnerability to external economic pressures.

China and Russia have been at the forefront of efforts to reduce the dollar’s dominance in international trade. Both countries have been actively promoting their national currencies, the yuan and the ruble, as viable alternatives to the dollar. China’s Belt and Road Initiative has also been a catalyst in expanding the international use of the yuan.

At the convention, China and Russia emphasized their commitment to further strengthening their bilateral economic ties and increasing the use of their own currencies in trade settlements. This move has the potential to pave the way for the dollar’s decline in global trade.

India and South Africa, while supportive of efforts to reduce dollar dominance, have been more cautious in their approach. They recognize the practical challenges associated with replacing the dollar and the importance of a gradual transition.

For India, a significant portion of its foreign trade is conducted in dollars, making a swift shift to alternative currencies challenging. However, India has expressed its willingness to explore regional currency arrangements within BRICS and promote the use of the Indian rupee in intra-BRICS trade.

South Africa, on the other hand, sees the potential benefits of diversifying its foreign exchange reserves but is also mindful of the existing financial infrastructure tied to the dollar.

While BRICS countries have varying levels of commitment and approaches, their collective efforts signal a shift in the global economic landscape. As China and Russia push for the internationalization of their currencies, and India and South Africa cautiously explore alternatives, the dollar’s role in international trade may indeed be on the path to transformation.

Leave a Comment
More to Discover
About the Contributor
Sindhuja Pannuri
Sindhuja Pannuri, Staff Reporter
Sindhuja (Sindhu) Pannuri is a senior entering her second year of Wingspan staff. At school, she is captain of the varsity debate team and President of Youth and Government. In her free time, she reads books to escape reality and enjoys boxing in the ring. She’s so excited for what this year will hold!

Comments (0)

Wingspan intends for this area to be used to foster healthy, thought-provoking discussion. Comments are expected to adhere to our standards and to be respectful and constructive. As such, we do not permit the use of profanity, foul language, personal attacks, or the use of language that might be interpreted as libelous. Comments are reviewed and must be approved by a moderator to ensure that they meet these standards. Wingspan does not allow anonymous comments and requires the person's first and last name along with a valid email address. The email address will not be displayed but will be used to confirm your comments. To see our full Comment Policy, visit
All WINGSPAN Picks Reader Picks Sort: Newest

Your email address will not be published. Required fields are marked *