JPMorgan is forecasting how long the US dollar will remain global currency as BRICS begins its derailment procedure. The US dollar is under pressure from various corners as developing countries cut their ties with currencies. From reconciliation of local currency trade, to diversifying central bank reserves and rewriting policies for the benefit of the alliance, there is a paradigm shift in the global financial sector.
Emerging economies previously feared the impact from the White House if they were not in line with American policies. They are ready to show no fear in 2025 and challenge the United States on the world stage. Considering all the latest developments, JPMorgan provided a prediction as to how well the US dollar could survive as the global reserve currency, as BRICS appears to be falling.
BRICS: How long will USD leave global reserve currency? JP Morgan CEO explains
JP Morgan CEO Jamie Dimon predicts that the BRICS Alliance could ultimately succeed in defeating the US dollar. His predictions show that the US dollar has remained a global reserve for 40 years and could lose its position afterwards. Dimon has now come to the point of saying that if the US loses its outstanding military and economic power, the dollar is doomed.
“I get asked this question all the time: ‘Are we going to become reserve currency?” No, unless we are an outstanding military and an outstanding economy. ” JP Morgan CEO continued, “40 years from now, we are not reserve currency. That’s true. We just read history.” He said BRICS aims to uproot USD.
Dimon highlighted that if the US fails to meet all these parameters in the next 40 years, there is a risk of losing control of the currency. But if the White House manages to control things, the greenback will remain solid. The Litmus test is intended to help the White House protect USD from the onslaught of BRICS, according to JP Morgan.
