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Bloomberg published a report this year indicating the probabilities of a recession in major economies country-wise. The report highlighted that the U.S. and other Western allies have higher chances of slipping into a recession than the developing economies. The U.S. has a 65% chance of falling into a recession and BRICS member India has a 0% chance of a recession. India’s GDP is growing at a rapid pace and touched $3.75 trillion in 2023. Also Read: BRICS: 130 Countries Move Towards CBDC Currency, US Dollar in Jeopardy Goldman Sachs recently predicted that India will overtake the U.S. as the second-largest economy in 2075. Read here to know more details about the prediction for a better and more in-depth understanding. JUST IN: 🇮🇳 India to overtake US as world's second-largest economy by 2075, Goldman Sachs says. — Watcher.Guru (@WatcherGuru) July 10, 2023 Therefore, India can do without the BRICS alliance as its economy remains much str...

BRICS is looking to create a new currency to take on the U.S. dollar on the international stage for cross-border transactions. China’s President Xi Jinping is moving to convince several countries to settle trade with the Chinese Yuan. France recently settled an LNG gas trade with the Chinese Yuan and not the U.S. dollar. In addition, Yuan is now the top traded currency in Russia and not the USD. The development is adding strain on the dollar’s prospects and challenging its supremacy as the world’s reserve currency. Also Read: What Happens to the U.S. Dollar if BRICS Launch New Currency? JUST IN: China and France complete first LNG gas trade using Chinese Yuan, ending reliance on the US dollar for energy trades. — Watcher.Guru (@WatcherGuru) March 29, 2023 However, despite the aggressive efforts, China does not want the Chinese Yuan to replace the U.S. dollar, reported Business Insider. While the Yuan is the top contender to take on the dollar, China does not want it t...