Topic: Ditch the Dollar (Read 491 times)

USD is consistently shooting itself on its own foot, no wonder countries would start ditching it for other currencies. If the federal reserve only stopped printing money or at least slowed down on it, things would've been different. But the current rate at which money is being printed vs burned is unsustainable and really detrimental to the health of USD's Value. I wouldn't be surprised if by a couple of years from now they truly fall from grace and fall inferior against stronger currencies of tomorrow like the Chinese Yuan or the Euro. Hiden and the government needs to makebtheir mind up and do something about it if they want the balance to remain tipped in their favor. Otherwise a paradigm shift is on the way.

I think the fact that other nations kept on buying dollar all the time is the main reason why the dollar value didn't drop "too much". However, lets realize that FED had to increase the rates like crazy in order to stop inflation, which means that dollar did lose some value, maybe not so much against other currencies, but it did have a lower purchasing power.

Look at the things you can buy with 100 dollars today, and look at it 10 years ago, or 20 years ago. You will see that it has lost immense value and that's a terrible thing for all of the world because they are holding something that has lost so much value. If one nation put their money into btc instead of dollars 10 years ago, imagine the difference in value they would have.

Another reason why no country is going to truly "ditch the Dollar" is because no young, and able citizen from around the world are in a hurry in applying to be Chinese residents to earn their salaries in Yuan. Everyone wants to earn in the U.S. Dollar simply because it's ahead than any other currency in? Spendability, Saveability, and Liquidity.

 

China and the United States are not friends and it is unlikely that they will ever become. They are ideological opponents, that's a fact. BUT !
I recommend studying the structure of the Chinese economy, and you will understand that although the USA and China are not friends, they are forced symbiotics!
The causes of symbiosis are very broad.
For example, it is unprofitable for the United States to produce cheap goods within the country, more precisely at the price of Chinese ones - due to higher wages and taxes, it is impossible to produce them in the USA. And the population is already accustomed to "penny" small things for life.
On the other hand, China is the largest consumer of technology from the US, and the US is profitable because China is absolutely dependent on them, and will constantly pay.
Symbiosis is beneficial to China in that it has a huge and rich market! Look at the US share of China's exports!! All the rest combined do not consume so much in monetary terms! We have already talked about technologies - such technologies will not be supplied to China by India, for example, or Brazil! Pr rogue countries, such as Russia and Iran, it makes no sense to talk at all ...
From the point of view of politics - yes, China is the "opposite political pole", but this pole has a high influence in regions where the US is weak, and the US does not need to spend efforts to restore order or change the situation - Xi himself will do everything so that the US does not worry .. Because - SANCTIONS, which China is very afraid of.

Therefore, all this hysteria with "give up the dollar" is just a beautiful game of China, with its "not intelligent servants", but no world conspiracy

Many factors can affect the value of $ in the international market such as the monetary policies of countries, the global economic situation, market fluctuations and important political events. But I must admit since the outbreak of the epidemic, I see that the political position of the US and EU countries is gradually losing their voice, the rise of China and India in recent years has brought a new polarization of the economy. We face many other concerns in our lives now, and I think without a more positive change the shift in economic development will gradually shift to Asia, and my speculation about jobs in some Asian countries will require workers from the US and EU.

It's interesting to see though that the media had not suppressed the news about this de-dollarization. It's like they wanted the world to know which is quite not normal. In the news just recently France bought LNG using the Chinese Yuan. It's like they literally want this to happen or everyone even the media is ganging up.

BTC I think will be much better to be the global currency since everyone is going to be suspicious also when could it happen that CCP uses the Yuan for political purposes.

I feel like its literally US against the world right now. I think most countries are sick and tired of the FED creating money out of thin air. The problem is that every country is so intertwined with the USD that it would take years to fully decouple, but its clear that this process has been jump started and that eventually the fall of the USD is inevitable, at least to be replaced as the world reserve without question. Although we always knew that this day was coming, just not quite so soon...... Good thing we are all acquainted wth BTC

The dollar has been the mainstream currency for all countries if they want to trade with each other. Due to this reason, every country kept the dollar reserve with them, and the more the country have dollars with them in reserve, the richer they were considered.
Also, the US knew this fact, and they kept on printing money which did not make the dollar value too low, although inflation does increase when you print more dollars.

However, now when countries are using other currencies, this means that demand for the dollar will decrease considerably globally, and their currency value will be devalued. The world economic system is changing rapidly.

Actually, with China, because they're an export-driven country, they want the Yuan to be weaker than the U.S. Dollar because it would make their exports more attractive for the importers, and who is the biggest importer of Chinese manufactured-products? The United States, and most of the other top importers of Chinese products also deal in Dollars.

https://www.worldstopexports.com/chinas-top-import-partners/

I believe China is also the largest holder of the U.S. Dollar in their foreign reserves.

They are using their own currency to trade according to the articles. If China buys oil from Russia, means China will need to use rubles to make transactions. Same with Brazil as any country trades with Brazil they will need to use Brazil Real, that's how I understood it as they wanna bypass using the US Dollar.

There are a few countries that might just use Yuan though especially since their currency is not good to hold. More and more countries will seem to be joining even Japan buys oil from Russia.

When it comes to agreements it is just like they are publicly shaking their hands while secretly stomping each other's foot. Although dollar has been weakening every year, it is unlikely that it will be replaced by another currency in the next few years but still nothing is certain. China has always put its best foot forward in order to be the next reserved currency, but I don't think the situation goes into their favor since there are also countries who are waiting for the downfall of dollar.

Has the US dollar been acting as the world's reserve currency for over a century already? Isn't it that its status as the world's reserve currency was agreed upon under the Bretton Woods System? The Bretton Woods Agreement which made the US dollar the globe's reserve currency was entered into in 1944. If this is the case, then its status as a reserve currency is only 79 years old, and it seems it is already weakening.

Its probably the Dollar itself which will end the dollar, these agreements I wonder why are they new why wasnt it always like that.   Brazil and China arent some perfect stability in their own currency standards so the idea they can perfectly align is probably not the case.   There has been previous attempts to align countries in trade and other ways, many times its been attempted and things drift and the alliance unfortunately tends not to hold because the two or more countries are different and not gaining enough in their agreement.
 Its harder then it looks but in theory its a good idea to have a trade route to best promote comparative advantage, it just cant be false in any way or it doesn't last.  Most of the time adjustments and flexibility are required to stop one party being disadvantaged

Pakistan followed by Saudi Arabia, and Iran. They're the countries that choose to follow the BRICS, and choose to use another currency for their transactions which is the Chinese Yuan.

USD has been the world's reserve currency for over a century already and on average, it lasted an average of 96 years for the 2 past world reserve currency before they are being replaced which means that the USD surpassed the average already. Will it be replaced? I don't think so for a short amount of time, but de-dollarization will happen, but it will take a very long time for it to happen. Right now, there are no signs that BRICS are slowing down the process, and they are always moving forward to achieving their goal. Expect more and more news regarding BRICS, and their plans of ditching the dollar.

TBH, I don't if it's only me, but I want to see our world reserve currency getting changed when I'm still alive. I mean I already experienced a pandemic which happened only twice in my whole life (SARS and COVID pandemic), and now I also saw USD getting replaced.

It seems that politicians often preach one thing but do another when it comes to their personal finances. While they may publicly denounce the US dollar and western influence, they continue to take advantage of the benefits and stability of those systems in their own lives. This highlights the disconnect between political rhetoric and personal action.


I think this also this another point A lack of trust and stability in the global financial system could lead to increased volatility and economic uncertainty. It's not surprising that China, as a rising global economic power, would seek to lessen its dependence on the US dollar in international trade. However, it's important to consider the potential consequences of a shift away from the USD as the dominant currency.

I immediately thought that China may have something up its sleeve when I read the OP and when I had read your post, I agreed with your opinions. The US and China are not friends and some would say there is some rivalry in their relationship.

China may very well be leading some sort of silent boycott against the USD when it comes to international trade. I also think China is obviously trying to weaken and undermine the dollar in international trade and it seems to be working as what country wouldn’t jump at the opportunity of doing business with China or anyone else and paying not in the USD but in your local currency? I wouldn’t fault any country if it bites.

In having multiple trading partners where the USD won’t be used for payment for trade, China could be steadily and slowly trying to take away the relevance of the dollar from the international market. If that ever happens, we should be watchful on what currency would try to step in and replace the dollar as the leading currency in the world stage.

Looks like these countries are tired of sharing their lunch money with the US dollar. Can't blame them for wanting to keep more of their hard-earned cash.

Yo, some countries be ditching the US dollar and using their own cash to trade with each other. They tryna save some cheddar and boost their trade game. Plus, they can dodge any drama with the US economy and exchange rates. But, who knows how this will pan out in the long run and how it will shake up the world's economy.

Regards sanctions, thats actually using the $ as a weapon,  I think countries are realising
that holding dollars is a liability, same goes for the excessive printing, again its
a liability holding the $, its losing value quickly.

So its one thing countries starting to ditch the dollar but imagine when all the trillions
of them which are going to make their way back to the US eventually....


Yes possibly the Yuan as a global reserve currency and Bitcoin as a global reserve asset?

These countries you guys are talking about always stood in opposition to the US and see an opportunity now. The dollar is being artificially pumped up by the FED, Russia is pushed against the wall by sanctions, don't tell me this isn't a golden opportunity to do some mischief. It doesn't mean USD will die though. The EU is following US footsteps in monetary policy and I don't think that China+Russia+ Iran can actually stand up to the US+EU+Israel+ Japan+South Korea. They'll do whatever damage they can though.


Some of us are getting paid in a fixed sum (BTC), you know.
Just saw an opportunity here, don't hate. The rest of what you said is pretty much spot on.

BTC might just be the best option than just going to a country's currency because it always happens every time that a country will be using the currency to oppress another country. Even Francs were enforced in an African land so far away from France that they themselves are not even using it.

If they are going to discuss how a currency becomes a global currency, it will disgust your stomach. But its always been that way even in ancient times when India is the richest.

I think many have seen the graph below:



As you can see, every global reserve currency has it's lifespan and USDs lifespan is about to come to an end. Which currency will take it's place? Yuan? Bitcoin? Personally, I think it's going to be Bitcoin, the time of national currencies is over. Make sure you're ready when the time comes. BTC

Changes when it comes to such fundamentals of the economy are never fast, but they do happen, the US dollar has enjoyed a period of dominance but it is not as if this was unheard of, but just as there were currencies before the dollar which were used for international trade, those currencies also lost that power, and as such I do not see why the US dollar is going to be an exception to this rule, especially when more countries are openly opposing it.

I am pretty sure Dollar will stay, this is the biggest economy in the world we are talking about and that is not the only thing that matters, it is also the biggest income maker in the world as well. They may have a lot of debt, and they may do war crimes and invade other places and all that, you may hate them personally as much as you can, I do not really like them neither, but when it comes to economy?

Nobody else can be as self sufficient as they are and they are going to be rich forever. Dollar is not going anywhere because of this exact reason, I highly doubt that it can go away anytime soon. I hope we get a bit more equal currencies of course, but it is not going to happen.

That's good of countries to become more willing to deal with their own currencies directly between each other, instead of using the US Dollar. To a certain extent this is going to reduce the number of financial transactions needed and also increases demand for these currencies. In international trade it's usually one country that sells goods, material or commodities and in the past was paid with US Dollar, the country then could use the money to buy anything they want from all other countries that accept USD. Now with more bilateral trade, the country that receive the foreign currency would need to exchange it or have a smaller range of countries to buy things with the money. This could be a  great way for smaller countries to try and generate more trade. Especially when it's harder to move large quantities of foreign money around. This could also be an effort to engage more into goods vs goods trading instead of settling for money.

I think this is some exposure from the movement of resistance carried out by the bamboo curtain country, whose goal is to suppress US dominance in the global economic market, China deliberately invites them one by one to join the system created by China, and I have to admit given that china has that power to put pressure on the US in international markets, that strategy of bilateral relations has been quite effective so far and may be even more widespread if it goes on actively without any interruption due to the obvious advantages to each other in using each other's currencies.

I think if the USD is no longer in use, surely it will do the same thing as other countries, namely looking for a currency that applies in the international market to meet its export and import needs, and those that usually carry economic flows are forced to follow the flows brought by countries. other.
 
If the expansion of the system traded in China continues to develop, of course people will release dollars as foreign exchange and return them to their owners, and that day when all countries release them, maybe the dollars will accumulate in their own cage and certainly hyper inflation will not be avoided.

The US must not have time to calm down if it does not want its opponent to take its throne.

I wouldn't say that the Chinese economy depends on the dollar. China simply doesn't want to provoke a global financial crisis, by dumping the US dollar completely. They will dump the dollar, when the right time comes and when they are ready. The process of dedollarization has to be less painful for most of the countries in the world. Many Latin American, African and Asian countries don't want to deal with USA and the US financial system, because of the US system of sanctions. The USA is simply saying "if you want to make business with us and use US dollars, you have to follow OUR rules". This is something, which many people in the world dislike. The arrogance of the US empire is getting out of control.

The political undertone with the ditching of the Dollar are very clear and one of the reasons why the BRICS countries are strengthening relations to rely less on the US Dollar and more on trading in other currencies.

China seems to be the leader of the pack and the driving force behind this, because they know that a weaker Dollar will give them a economical advantage and also a stronger military power, if they can strengthen their economy. 

Another unfortunate fact is that the United States know they can do it because the Yuan will never be a long term solution/replacement for the Dollar. Why? Because of the One Child Policy, China's population is aging. By the year 2050, 39% of their population will be made of retirees/people who are over 65 years old according to some projections by researchers, and it will grow.

That will definitely have a negative impact in their society, economy, policy AND their CURRENCY.

There are many reasons leading to the decline of the dollar. One of the most important reasons is the monetary policy of the US Government. The US government has issued too many dollars to serve their spending, causing inflation and a decrease in the value of the dollar. In recent times, the dollar has experienced a significant decline in its value against other currencies in the world. This decline has caused much controversy and concern in the global financial community. And seeing the changes emerging from China, I think it is understandable for the dollar to lose its influence.

The list of things that led to demise of United States is long, one of the main ones is abuse of power/sanctions. Another is the unstoppable money printing machines that are on a printing spree increasing the US national debt by the second.

The world has realized that they either have to endure US inflation in their own country or dump dollar so they are slowly but surely choosing the second option.
This is not the first time they do this either. They did it back when they first realized US economy is only alive because they print money that is no longer backed by anything, this was in the 70's and they ditched dollar and it got dumped hard and US economy turned into ashes in about 6 months.

Of course in the 70's US national debt was only in billions of dollars, to be more specific in 1970 it was only $371 billion dollar and today it is $31,653 billion ($31.6 trillion) which is a 8431% rise! US is also not the hegemony it was back in 70's without competition. US military is not nearly as strong as it was back in 70's. US also doesn't have the energy rich colonies it had back in the 70's.
The dump of dollar this time is going to be a lot more catastrophic and there will be no coming back.

Unless the US regime can think of any other scam like last time (Petrodollar) or start a World War, I don't see the trend of dedollarisation slowing down.

it's usually what I see in the mainstream media almost everyday, not knowing that their last option or their ace up on their sleeves is the western countries. i know you didn't mean to generalize everyone who is against western countries coz I am an eastern too, but seeing how some of my fellow people here acting that way is somehow embarrassing. imagine them telling the western country "it's about to collapse, dollar keeps decreasing, high inflation rate" while at the same time they'd be saying "there are lots of opportunities there, good education system and world class standard, cheap items you can buy in bulk", isn't that kind of ironic?

Yes, it's still warm. my view on the success or failure of this trend will depend on a variety of factors including economic and political stability, the strength of alternative currencies, and the willingness of participating nations to cooperate and compromise because doing so could challenge the US position as the dominant global superpower and its ability to deliver influence through economic means.

Shifting from the US dollar as the primary currency for international trade is a complex issue with potentially significant implications. While this can also promote greater independence for participating countries, it can also lead to increased volatility and instability in global markets.

And it's not just that, the whole economy stands upon exports to the western world, the yuan is not getting dumped like other currencies just because there are USD entering the economy, if that is gone the yuan will follow the rest of the shitcoins, they need the US to be as powerful economic as it can in order to sell them stuff, otherwise is bankruptcy for them
Plus as you said, China is losing its workforce, and this thing was captured perfectly in this quote

As I said, when it comes to politics yeah, ditch the dollar, when it comes to your own wallet, good dollar, more dollars!

It is laughable how every single politician from those countries that want to end the US dominance is having bank accounts in the western world, in either $ or Euro, is sending his kids to western countries for education, and is buying properties there, despite every single daying tweeting about the collapse of the western world.

I have no positive views of dollars or any other fiat currency as they cause labor theft through inflation. In addition, if we look at the historical change in global reserve currencies, we can easily predict what will happen to the dollar. That's why dollars or any other fiat currency is never a top priority for me. Instead of dollars or any other fiat currency, I try to raise assets with limited supply such as Bitcoin and gold in my vault. So, I'm giving up the dollar, but not for the purpose of using the yuan :)

It's ironic that these countries decide to ditch the dollar for an even bigger devil. It's some very senior level politicians no doubt getting very rich doing grubby little deals that will end up in very opaque arrangements with China. America is by no means an angel, nor is it especially charitable in the rates it offers, but China has been shown to be much more manipulative in it's business and political dealings. The average person on the street from all of these countries is going to suffer for these trade agreements in future. Ironically China  is an even worse currency manipulator than the USA, which is funny because that is a very tall hurdle to reach over. These swap moves money from the clouds into the dark caves where no one can see.

China's strategy for long term development is that they offer economic concessions to certain countries and make the country dependent on them. When that dependence forms, the country is at the whim of China -- should they ever be at odds, China cuts off the economic ties and isolates the dependent country. They tried this strategy in some African countries in the 90's and early 2000's.

Ditching the dollar for the adoption of Yuan makes USD weaker and merely puts a bandage onto a bigger problem which is centralized currency.


Unfortunately the U.S. became too heavy handed with sanctions and countries are realizing it isn't worth it to have an unstable country that pegged directly to U.S. foreign policy.

Will all these efforts succeed in reducing dollar reserves globally? I see that the dollar is still the number one reserve currency, even with all the damage that the Fed is causing to countries, many countries still keep the dollar and prefer to deal with it instead of many currencies.
These deals are considered an attempt to put pressure on the United States from those countries, but in the end, when the choice is between the dollar and other currencies, I think that many will choose the dollar.

Check Foreign_Holders_of_US_Debt_2022

Plus the narrative is, it will be the Chinese Yuan that's going to replace the U.S. Dollar, and that it's going to happen "soon". But what the people who push the narrative never researched is that China is one of the largest HODLers of the U.S. Dollar. It would be laughable if they'll cause its destruction, and burn the value of their own assets.

China's population is also getting old. Their fertility rates are going down, and probably by 2050, they will have more old people than young people who are under 25. What will that do to their GDP, and the future of their economy?

Fans of populism, of course, "clap their hands", rejoicing. True, they do not understand that in fact, the situation is diametrically opposite ...

I'll start a little from afar. Among the countries included in this union, so to speak, only one country is reasonably developed, in terms of the economy and a certain technological level of development. This is, as you all know, China. And it's not just that the slogan "abandoning the dollar" has turned, in reality, into the slogan "everyone except China is switching to yuan. China remains with dollars." Why is that ? Because of all these "equal" members of the union, China becomes the OWNER of this union, and its satellites become its subordinates, whose economy will soon be completely dependent on China.

At the same time, the Chinese economy depends on the dollar. Therefore, China "supported" this idea, but with a small caveat - China did not abandon the dollar, and "put" its "subordinate" allies on the yuan

It's mostly revenge in my opinion. After the Opium War waged on China they went back to an old ideology that basically says "be like grass, bend but don't break". They built their economy up from having 85% of their massive population in absolute poverty to having 0% absolute poverty and the strongest economy at present. They did that by "bending" but not "breaking".
Now they are taking revenge.

The only thing that should matter to the rest of us is to not allow China to replace US after the collapse of United States like Soviet Union did before it.

There's been too much pressure on the USD in recent years. I would like to add that France and China also have the first trade agreement using Yuan instead of USD or Euro.
https://news.italy24.press/trends/429400.html

Although it is still unknown what the future of the USD will hold in the face of the rise of countries that are turning their backs on the US. But I wouldn't be surprised if the USD collapsed and was replaced by a new currency. That's the law of life, no one can stay on top forever, in the history of the world, there have been 5 collapses of leading currencies. USD has dominated for the past 100 years, and it is time for us to have another currency to replace it.

Countries with large economies and high growth potential are working together to get rid of the influence of the dollar, something interesting that I think many people should pay attention to is that the countries in the BRICS bloc accounts for about 42% of the world's population and 23% of global GDP. Therefore, the BRICS bloc contributes greatly to the development of the global economy. Along with that, the countries in the BRICS bloc are increasing their trade with other countries in the world. This is a way for countries in the bloc to increase competition and attract investment from other countries.
There is no doubt that the dollar is losing on the economic front against the yuan, I am very much looking forward to how the US will change in the near future, especially as I am not very impressed with the US dollar. machine that runs the current country.

No fiat currency is a safe haven. We all get affected by the dollar because that's the world's currency in international trade. China is just trying to strengthen its yuen by making these deals so I don't think it's much of a difference in the long run. However we do it, there's always going to be that currency that we used to measure the value of things on the international market, whichever it is; pounds, dollars, yuen, its not much of a difference because if that currency or economy suffers, most of the countries dependent on it suffers.

Is it the beginning of some kind of cold war led by China? The primary purpose of these bilateral trades isn't only to cut costs in my opinion, and China probably is doing its best to lessen the dominance of the US dollar over the world economy by initiating these trades with different nations, they know that other countries will follow suit knowing they can do it to reduce costs and to become a bit more independent when it comes to using a currency for international trade.

I wonder how will things be if USD isn't the leading currency of the world and isn't used for the pricing of almost everything that you see or buy locally or internationally either through the internet or in real life.

It's utterly riveting, folks, to watch nations break free from the age-old reliance on the US dollar for global commerce. Sure, the dollar's been king for a long time, but let's not forget, there are other players in the game. By utilizing their domestic currencies in commerce with one another, these nations are stimulating increased bilateral trade and investment, diminishing costs, and nurturing solid economic connections. This move might unlock new possibilities and openings for international trade and cooperation.

Additionally, this transition to employing local currencies could contribute to superior financial steadiness and autonomy for these countries. By depending less on the dollar and more on their own legal tender, they can decrease their susceptibility to global economic swings and crises.

To wrap it up, this shift away from the dollar, while gutsy, could yield remarkable perks for these countries and the international economy at large. Let's welcome this novel epoch of global trade and teamwork with open hearts and a positive outlook.

Oh yeah, the ditching of the dollar, the never-ending struggle of some counties to make their worthless currency worth something.

It's not hard, it's not politics, it's simple economics why they don't want to use the $, and that is because they can't afford it anymore, Weimar style!

Go to an exchange website and check the pair over 10 years:
https://www.xe.com/currencycharts/?from=USD&to=INR&view=10Y
USD to INR +51.00%
https://www.xe.com/currencycharts/?from=USD&to=BRL&view=10Y
USD to BRL +151.93%
https://www.xe.com/currencycharts/?from=USD&to=PKR&view=10Y
USD to PKR +188.33%
https://www.xe.com/currencycharts/?from=USD&to=RUB&view=10Y
USD to RUB +145.74%

And a special mention of course:



How bad can your sight be and how twisted is your mind to think this is killing the dollar and that dedollarization is in full swing and the USD is dying?
Dying by doubling and going tenfold in value against the currencies that were supposed to kill it?

This is like the Dash and Bitcoin SV planning on killing BTC by allowing only trades between them.  
If they are ditching the $, thus this means selling $ reserve and dumping it for their currency, why is their currency still depreciating against the greenback?

Oh, but wait, I have one question for everyone here:
If the $ is dying, why don't you ask your campaign manager to be paid a fixed sum in INR or RUB or Rials and you are all fine with $?   
Might it be that behind the propaganda, when it hits your wallet the reality is different?

It is called dedollarisation and it has been going on for a very long time (at least the past decade) but it started speeding up in the past year and ever since US economy started falling apart and FED decided to export more of US inflation to other countries.
I cover more cases in this topic: https://bitcointalksearch.org/topic/--5432581

Basically the whole world (even US allies) have always wanted to dump the dollar after Nixon administration, but for a lot of reasons (including lack of independence) they have been slow. This is also why we are currently only seeing countries with more independence from US dumping the dollar while others slowly joining in at a smaller scale.
Although Saudi regime as the 51st US state is an exception, they have no independence but are joining in because they were forced to; essentially after Aramco was hit and their oil production was cut by half.

AFAIK, India is also part of it based from the other source that I've read but it was an incomplete information but we'll see. It's gonna be a bigger problem for the dollar if Saudi Arabia starts to follow this type of alliance from countries that have been forming an alliance trade with China and Russia. The US/EU doesn't like that and that's why they're putting sanctions from this possible trade up alliance. But I'll take it from those economy, political and internationa relationship experts on what they think about this building formation alliances.

With this, the Dollar's global reserve currency status is going to face some serious issue. I don't know what china is trying to pull off here, but I heard some news about some banks in China accepting crypto again. What is their motive? With the recent inflation and now this.
It is good news in a way, but the world economy will face some ups and downs, that's for sure. It's like 2 sides of the same coin. Hopefully it will be interesting to see what in going to come from this and who will be benefiting and who will be losing.

Western hegemony led by America with the influence of the dollar looks to be getting worse and worse as the day goes on, the crises in Uncle Sam's country are getting more serious and inflation is no longer inevitable so that it makes people in the lower and upper classes feel suffocated by the tug-of-war of rising interest rates. Of course it is an opportunity for the United States Rivals to take US customers one by one and leave the dollar which is an alternative currency for global trade and foreign exchange, countries that have the courage and try to get out of the dollar ecosystem is a great opportunity, and as we can see from the data what was presented by the OP, they began to ally themselves through a trade cooperation approach and maybe for the next is military cooperation and forming forces such as NATO as a product of solidarity and resistance to western hegemony.

The whole world knows that the dollar is no longer a safe haven, and almost everyone suffers from it. The problem is in the US pressures that impose their control over the world economy by controlling the production of the dollar, which the world considers the official criterion for determining the prices of important products such as gold, oil and gas.
In addition to the examples you mentioned, there are other countries that are considering adopting alternatives to the dollar in their dealings with China, which will strengthen the position of the yuan. There are countries that are considering choosing to launch their CBDC currency to facilitate transactions with allied parties.

This is happening everywhere like there is a USD revolt.
China through its BRI had built a large coalition that will utilize thier native currencies for bilateral trade but China is more like promoting Yuan for international trade and it's actually being accepted by different countries.

India also has such a goal that they made several international trade settlements in Rupees. Kenya also ditches USD for shillings and in the middle east, PetroYuan is gaining.

China and Russia's alliance can easily form for the sake of friendly nations and also quite a good neighbor when it comes to war. However, I am damn sure that Brazil and Pakistan won't last for very long. In the case of the Brazilian alliance, the US is the biggest obstacle for them and they would be let down by them in no time. When it comes to Pakistan, well what to say about that country, they already have their own issues of daily needs so what kind of alliance they are going to form with China? If they do it they are anyway lowering their own value in the process and if they do it, then they would surpass historical charts against dollar value. The basic needs are so high that people would prefer to die out of hunger but they cant really survive that situation. China is just plotting their next strategy to acquire the land and nothing else.

I think these trade agreement between these nations have some political undertone. It is clear that China is leading an economic war to whittle down the financial influence of the United States. I support the idea of using local currency for international trade because it helps to reduce the cost of such transactions and also eradicate the influence the dollar has over these economies. I am pained by the amount most developing nations have to spend on international trade because of the dominance of some currencies. These expenses would have been used to provide basic amenities for these poor nations. But these policies should be done with good intentions and not just to score political points.

Recently, some countries began to use their local currencies in trade with each other. It is true that there was no trade union between these countries, but these movements began to increase. This topic will shed light on some of these countries:

China, Brazil strike deal to ditch dollar for trade



Pakistan, China agree to trade in yuan


China and Russia ditch dollar in move toward 'financial alliance