In 2025, the global landscape has transformed significantly, yet some still cling to outdated tactics, believing that threats of tariffs and sanctions can sway the world. Recently sworn-in U.S. President Donald Trump threatened to impose a 100 percent tariff on BRICS nations if they continue their de-dollarization efforts. \"As a BRICS nation… they'll have a 100 percent tariff if they so much as even think about doing what they thought, and therefore they'll give it up immediately,\" he said on his first day in office.
The Chinese Ministry of Foreign Affairs responded promptly, emphasizing that BRICS is about fostering cooperation and shared prosperity, not confrontation. The truth is, the world is no longer buying into one-currency dominance or sanction-fueled pressure.
Resilience Beyond Sanctions
Take Russia, for example. When faced with a barrage of Western sanctions in 2014 and 2022, many predicted economic collapse. Instead, Russia built its own financial infrastructure. The System for Transfer of Financial Messages (SPFS) emerged as a homegrown alternative to SWIFT, and the Mir payment card began fulfilling the roles of Visa and Mastercard. These initiatives insulated the Russian economy and laid the groundwork for deeper financial ties with non-Western allies like Türkiye, Kazakhstan, and nations in the Middle East, without dependence on Western-dominated systems.
Similarly, when the U.S. restricted Türkiye's access to technology and equipment—including F-35 jets and unmanned aerial vehicles—Türkiye responded by developing its own resources. It not only produced necessary equipment but also began exporting to Middle Eastern and African nations.
A Shift Toward Equitable Global Order
Russia and Türkiye's resilience is just the tip of the iceberg. More nations are seeking a more equitable world order. Last year's G20 Summit in Brazil marked a historic moment with the African Union attending as a full member for the first time. The G20 now represents a new vision, not just a club of economically powerful countries.
BRICS nations are also rewriting the rules of global trade. By trading in their own currencies, they are reducing dependence on the U.S. dollar. Brazil and China now conduct trade using their national currencies, a move mirrored by India and its regional partners. The BRICS New Development Bank is financing projects in local currencies, offering a fresh approach to international funding without reliance on Western institutions. Additionally, efforts are underway to create a BRICS blockchain-based payment system.
Embracing Pragmatism Over Politics
This shift isn't about making a political statement—it's about pragmatism. The world has witnessed the dollar-dominated system stumble repeatedly, with crises rippling across continents—from the 2008 financial meltdown to the pandemic-induced global recession. Over-reliance on the dollar has proven to be a risky bet.
The decline of threats, sanctions, and one-currency dominance signals a new era where cooperation and mutual benefit take precedence over coercion. As nations forge their own paths toward financial independence and global collaboration, outdated tactics lose their effectiveness. The global community is embracing a more diversified and resilient economic landscape, moving beyond the shadows of singular dominance.
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Why threats, sanctions and one-currency dominance are past their prime
cgtn.com
