An expert has predicted significant challenges for the US Dollar in 2024, as part of the greater de-dollarization plans among the BRICS countries. The growth of the economic alliance has posed a challenge for the greenback. Anticipated by many, the impending trouble is predicted to commence within the current year.
During a recent discussion, Rebecca Walser, the President of Walser Wealth Management, shared insights on the potential consequences of the expansion for the United States. In addition, she highlighted the expansion effort as a significant move in the global shift away from the dollar as a widely recognized reserve currency.
Wealth Management President Prediction
In 2023, the growth of BRICS emerged as a significant geopolitical development, capturing global attention. Despite skepticism about their anti-western approach, experts are closely monitoring the potential implications of the group’s initiatives. One expert, Walser, predicts that the US dollar may face challenges in the upcoming year.
In a recent statement, Walser expressed her anticipation of significant challenges for the US dollar in 2024, as the BRICS countries continue to adopt global de-dollarization. During the interview, Walser addressed the potential impact of macroeconomic factors on investors. One topic that was brought up was the BRICS alliance.
Walser expressed her macroeconomic concern, which originated from the expansion of BRICS. According to Walser, Wall Street is not giving any attention to the landmark growth plan. In her statement, she emphasized the significance of including Saudi Arabia and the United Arab Emirates (UAE).
“This brings us one step closer to what Walser considers the end of the dollar’s dominant status,” Walser stated in a news-like manner. “According to the data and analytics, the combined GDP of the BRICS bloc is surpassing that of the G7 nations.”
Walser noticed a significant shift occurring in the oil industry. In a recent statement, she drew attention to the possibility of Saudi Arabia, UAE, and OPEC considering the option of selling crude oil in a currency other than the US dollar. This development could potentially have significant implications.
The expansion of BRICS has had a significant impact on the global energy sector. The bloc’s de-dollarization plan has raised concerns due to the bloc’s clear aspirations. Only time will reveal if the concern will materialize by 2024.