Keywords:
BRICS , De-dollarization , New economic order , Geopolitical power shift , Future of the US dollar , BRICS impact on graduate careers , Career advice for geopolitical shift
- What is BRICS – Who is in it now?
- What pushed the formation of BRICS?
- The Multipolar Metrix
- Will this reset the global power dynamics?
- The guide for upcoming graduates
For decades, the U.S. dollar has been the backbone of global trade, finance, and international agreements. This gave the United States unparalleled economic leverage: control over global liquidity, influence through sanctions, and the ability to shape international financial institutions. But in recent years, many nations, especially emerging economies, have begun searching for alternatives. Growing geopolitical tensions, the desire for economic sovereignty, and frustration with a dollar-centric system have pushed countries to consider new frameworks. At the center of this shift stands BRICS.
What is BRICS – Who is in it now?
An informal grouping of major emerging economies created to coordinate positions on global economic and political issues and to promote “South–South” cooperation. It began as “BRIC” (Brazil, Russia, India, China) in the 2000s and became BRICS after South Africa joined in 2010. Since 2024–2025 the bloc expanded: Egypt, Ethiopia, Iran and the United Arab Emirates became members in 2024, and Indonesia was formally admitted in January 2025 — giving BRICS ten full members: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, the UAE and Indonesia.
But here is where the game lies. The top five countries to first break the dollar bone are China, Russia, Saudi Arabia, Iran, and Brazil. Each one of them are using their intellectual resources to create a more reliable and less vulnerable system to protect their economy from constant geopolitical shifts. And each one of them are using their own strategy to challenge the dollar supremacy over time.
What pushed the formation of BRICS?
China – The Draughtsman
China isn’t challenging the dollar with loud resistance, instead, it’s quietly outmaneuvering it. Through widespread Digital Yuan pilots across Asia, expanding BRICS trade in local currencies, steadily accumulating gold reserves, and building Belt & Road financial routes that bypass SWIFT. China is also crafting a parallel economic system rather than fighting the existing one. In the BRICS landscape, China stands as the architect, reshaping global finance with strategy instead of confrontation.
Russia – The Runagate
Russia didn’t choose to leave the dollar system, it was forced out, and it adapted fast. Sanctions pushed Moscow to pivot its energy trade toward the ruble and yuan, activate its own SWIFT alternatives, and strengthen gold-backed reserves at record pace. The experience delivered a harsh truth: rely on the dollar, and your entire economy can be switched off overnight. Now, Russia is engineering its escape route — and reshaping BRICS strategy in the process.
Saudi Arabia – The Climacteric
Saudi Arabia was once the anchor of the petrodollar and the quiet force that kept global oil tied to the U.S. currency. But the landscape is shifting. Riyadh might be exploring oil sales in yuan, renegotiating long-standing energy contracts, and holding serious talks about joining BRICS. For a nation that sat at the heart of dollar-denominated energy, this is a seismic turn. When Saudi Arabia signals that oil may no longer speak exclusively in dollars, the entire world takes notice, because that’s when the balance of global power truly begins to move. Reports mentioned, lately Saudi Arabia has held discussions with China to price some of its oil exports in yuan rather than dollars. Some analysts see the move as part of Saudi Arabia’s effort to diversify away from its longstanding reliance on the U.S dollar and to deepen its economic partnerships with China.
Iran – The Defiant
Iran didn’t seek an alternative system; hence, it was pushed into creating one. Locked out, sanctioned, and isolated, Tehran learned to survive by redesigning how it trades with the world. It turned to local-currency settlements, revived large-scale barter arrangements, and even explored crypto-based corridors to keep commerce alive. For Iran, this wasn’t about power, it was about necessity. But in that necessity, it forged blueprints that now influence the wider BRICS push toward a world less dependent on the dollar.
Brazil: The Silent Strategist
Brazil is the strategic partner in the BRICS shift, calm on the surface and strategic underneath. While avoiding dramatic headlines, Brasília is steadily settling more trade in reais and yuan, supporting BRICS-driven payment platforms, and expanding commodity exchanges that operate outside the dollar’s reach. Brazil’s moves aren’t loud or confrontational; they’re deliberate, calculated, and surgical. In silence, the country is reshaping its financial autonomy and strengthening the foundations of a more multipolar global economy.
The Multipolar Metrix
The emerging BRICS “shadow system” is not simply a covert resistance; it is an engineered alternative financial network built on interoperable, national platforms that bypass Western‑dominated systems. At its core is BRICS Pay, a decentralised messaging protocol that links existing national payment rails; such as China’s CIPS, Russia’s SPFS, India’s UPI, and Brazil’s Pix, enabling cross-border clearing and settlement directly in local currencies rather than relying on the dollar. Complementing this is the BRICS Contingent Reserve Arrangement, a multi-billion‑dollar reserve fund that provides liquidity support to member states independently of the IMF, strengthening their resilience against dollar‑based shocks.
Will this reset the global power dynamics?
It is expected to reset the dynamics but in limited, uneven ways. Increased BRICS coordination on payments and trade can blunt some U.S. leverage. It could strengthen China and Russia’s regional influence and offer developing countries more options. But risks include fragmentation (multiple non-interoperable systems), greater dependence of smaller members on China, and retaliatory policy from the United States that could raise costs for BRICS economies. So the likely outcome is a slow, partial re-balancing: more multipolarity in trade, a weaker but still dominant dollar, and a geopolitical landscape where economic tools are more contested, not a single, sudden “reset.”
The guide for upcoming graduates
As BRICS expands and begins reshaping global trade, finance, and power dynamics, recent graduates must prepare for a world where economic multipolarity becomes the norm. Understanding cross-border finance, gaining skills in emerging payment systems, digital currencies, and international trade settlements will be critical. Familiarity with geopolitical risk, alternative markets, and resource-driven economies can provide a competitive edge, as multinational companies increasingly engage with BRICS-driven projects and infrastructure initiatives like Belt & Road expansions. Adaptability, digital literacy, and a global mindset will be crucial assets for young professionals navigating a decentralised financial landscape where traditional Western frameworks may no longer dominate.