BRICS: US & Europe Headed For a Recession, Warns BCA Strategist
BRICS is looking to overpower the US and Europe by putting local currencies ahead of the dollar for trade. The alliance kick-started the de-dollarization initiative convincing developing countries to end reliance on the US dollar. The global financial order remains on a slippery slope this year with weak macroeconomic factors affecting the sector. Also Read: BRICS: Brazil To Incorporate Government Bonds in CBDC Digital Currency On the heels of the BRICS de-dollarization threat, the US is facing calls for a recession which could also affect Europe. If a recession hits both the US and Europe, BRICS and other developing countries could benefit the most. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: Donald Trump Warns of Consequences If BRICS Ditches the US Dollar BRICS: A Recession On the Cards For US & Europe, Says BCA Analyst Source: Dursun Aydemir | Anadolu Agency | Getty Images BCA Chief European Strategist, Mathieu...