North Korean Analyst Warns of Accelerating End to Dollar Dominance — Says BRICS Poses Challenge to US Hegemony

A North Korean analyst has warned that the dollar's dominance as the world's reserve currency is accelerating its end, and that the BRICS countries are posing a challenge to US hegemony.

The analyst, Jong Il-hyon, wrote in an article for the Korean Central News Agency that the US has been using the dollar and its military might to maintain its hegemony, but that this is becoming increasingly unsustainable.

Jong pointed to the fact that the US has been forced to print trillions of dollars in response to the COVID-19 pandemic, and that this has led to inflation and a decline in the dollar's value. He also noted that the US has been imposing sanctions on countries that it sees as a threat, which has further weakened the dollar's standing.

Jong argued that the BRICS countries, which are Brazil, Russia, India, China, and South Africa, are increasingly challenging the US's dominance. He said that these countries are working to develop their own financial systems and to reduce their reliance on the dollar.

Jong's article comes at a time when there is growing debate about the future of the dollar. Some analysts believe that the dollar's dominance is coming to an end, while others believe that it will remain the world's reserve currency for many years to come.

It is too early to say whether Jong's predictions will come true. However, his article does highlight the growing challenges that the US is facing as it tries to maintain its economic and financial dominance.

Here are some additional thoughts on the matter: – The BRICS countries have been working to develop their own financial systems for several years. They have created the BRICS New Development Bank and the BRICS Contingent Reserve Arrangement, which are designed to provide financial assistance to member countries in times of need.

– The BRICS countries have also been working to reduce their reliance on the dollar. They have been increasing their use of their own currencies in trade and investment, and they have been developing alternative payment systems that do not rely on the dollar.

– The US has been trying to counter the BRICS countries' efforts. It has been pressuring countries to use the dollar in trade and investment, and it has been trying to prevent the BRICS countries from developing alternative payment systems.

It is unclear who will ultimately prevail in this battle. However, it is clear that the dollar's dominance is being challenged, and that the global financial system is undergoing a major transformation. 

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