A Challenge of Sustainability: The US Economy, De-dollarization and the BRICS Plan

Arno J. van Niekerk ()
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Arno J. van Niekerk: University of the Free State

Chapter Chapter 2 in West to East: A New Global Economy in the Making?, 2025, pp 37-71 from Springer

Abstract: Abstract This chapter investigates the multifaceted challenges to the US economy’s sustainability, set against the backdrop of a shifting global economic order. It examines the US’s economic vulnerabilities, including fiscal unsustainability, troubling trade deficits, income inequality, environmental issues, and its heavy reliance on the dollar as the global reserve currency amidst rising geopolitical tensions. The chapter finds that the US economy’s vulnerabilities, including its high national debt and persistent trade imbalances, pose significant risks to global economic stability. It also identifies a strategic move towards de-dollarization by Eastern nations, particularly the BRICS+ alliance, to counter these vulnerabilities and challenge the US’s economic hegemony. The significance of this chapter lies in its analysis of the intricate relationship between economic sustainability and geopolitical influence in an increasingly multipolar world. It underscores the potential reshaping of the global financial system and the urgent need for the US to adopt sustainable economic practices to maintain its global standing.

Keywords: Economic sustainability; US economy; De-dollarization; BRICS; SDGs (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-93267-0_2

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DOI: 10.1007/978-3-031-93267-0_2

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