BRICS+

[DrBeer]

If Bric is coming to the digital currency, it won't work out because it will be a centralized digital currency that will be controlled by the supported countries and if it is for the formation of the regional currency to eliminate the US Dollar then they might succeed because what they are planning to do is to use the agreed currency to trade, buy things and pay goods and services. Then it will work out and they are winning more countries to the economic block.

Great idea, but... There's still the question of implementation. Moving away from the currency of the international economic system, the dollar, has several consequences:
1. isolation of the BRICS economy, or correctly - self-isolation from the world economy. The reason is banal - 70% of the union members do not produce any products important for the world economy.
2. At the same time, China and India almost entirely produce significant products for the world economy. But they sell them for... DOLLARS. Why ? Because India and China need goods from the "outside" world economy, and there the settlements are for freely convertible and recognized currencies - mainly dollar, euro, yen,.... but not the yuan.
3. another reason - who and how will control the "single currency? Well, how can China and Iran, for example, equally ensure the value of the single currency? The answer is simple - they can't.
4. China will strongly push YUAN as the single currency of the union. Directly or indirectly, Yuan or CBDC Yuan.... Or it will demand to give China "Exclusive Rights" because it is supposedly the "second economy of the world".  China's goal in BRICS is "Chineseization of BRICS", it is enough to look at the colonization of African countries to understand what China will do with "raw material appendages". But China's dominance will be countered by ... INDIA. Which chooses the Western vector and qualitative relations with the world, rather than self-isolation....

[0t3p0t]

Your country is de-dollarizing
Of course they are the first steps, but it's clear what's happening

Dubai is a major gold trade hub.
Abu Dhabi too?

+1 for coming from the UAE!

This happened for political reasons, especially the Arab countries’ fear that the United States would not activate the defense agreements if these countries were attacked. Also, what happened with Russia and the freezing of assets made some Arab countries diversify their investments with China and India and even join BRICS+, but I do not think that the government will go far at it.
The real change will be when the economic outlook changes, as the political reasons can change.

Definitely the reason why countries that are afraid of sanctions are now looking forward to decentralized assets. I don't think joining BRICS would solve the problem as I think some of these countries has trust issues with themselves so I think they will still prefer decentralized assets like Bitcoin or they will still use local currency to trade like CBDC or the BRICS currency but I think we still need time to get a more clear view of it's real life usage in the future.

[electronicash]

Your country is de-dollarizing
Of course they are the first steps, but it's clear what's happening

Dubai is a major gold trade hub.
Abu Dhabi too?

+1 for coming from the UAE!

This happened for political reasons, especially the Arab countries’ fear that the United States would not activate the defense agreements if these countries were attacked. Also, what happened with Russia and the freezing of assets made some Arab countries diversify their investments with China and India and even join BRICS+, but I do not think that the government will go far at it.
The real change will be when the economic outlook changes, as the political reasons can change.

Definitely the reason why countries that are afraid of sanctions are now looking forward to decentralized assets. I don't think joining BRICS would solve the problem as I think some of these countries has trust issues with themselves so I think they will still prefer decentralized assets like Bitcoin or they will still use local currency to trade like CBDC or the BRICS currency but I think we still need time to get a more clear view of it's real life usage in the future.

they are waiting for the result of the wars that's happening. some are undecided whether they are going to side with Russia which they could rely on cheap energy but at the same time, afraid of sanction. 

US is also not going  direct military confrontation with China since this is going to be both devastating in their economy.  but this prolong war will still result to same thing. all in all, countries are just waiting which one will lose in trade war and they could all side to the winner.