How BRICS countries are challenging U.S. influence

By: Kayla Penhasi

Many developing nations want an alternative to Western dominance. Their economies are restricted in ways that leave them economically behind the United States, largely because of the U.S. dollar dominance. 

BRICS countries—also known as Brazil, Russia, India, China, South Africa (and recently expanded to include Iran, Ethiopia, Indonesia, and the United Arab Emirates)—consist of nations with major emerging economies challenging Western influence through political and economic cooperation. BRICS nations are trying to reduce dependence on the U.S. dollar through the utilization of local currencies as opposed to participating in the Society for Worldwide Interbank Financial Telecommunication, also known as the SWIFT system, which is overseen by banks within territories such as the United States, the United Kingdom, the European Union, etc. In an attempt to reduce their vulnerability, BRICS is resisting alignment with the West to garner greater influence in overall global governance.

BRICS, in addition to utilizing alternative payment mechanisms, is also exploring digital currency cooperation and has launched a gold-backed currency unit for bilateral settlements for member countries. This is backed by physical gold reserves, allowing nations to conduct trade outside of the U.S. dollar system, reducing Western financial sanctions. Since World War 2, the U.S. dollar has allowed the United States great leverage over the rest of the world as it serves as the primary reserve currency.

BRICS’ New Development Bank, known as the NDB, was established in 2015 and serves as a course of action to infrastructure project initiatives, challenging international financial institutions that are primarily dominated by the Western hemisphere. The economic impact BRICS has had on the West is gradually working towards a decrease in the value of the U.S. dollar. 

Despite BRICS’ resistance to Western ideals, the alliance faces significant limitations in challenging this dominance. Internal rivalries within this alliance, such as the geopolitical dispute between India and China over China’s Belt and Road Initiative (BRI), a competition for leadership in the global south between countries, conflicts as a result of the inclusion of new members, etc., all hinder the even larger-scale influence BRICS could have in challenging the West.

While BRICS has not displaced U.S. dominance as of early 2026, its influence is clearly expanding, and signs that the United States is no longer the uncontested global influence. 

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Works Cited

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“History.” New Development Bank, www.ndb.int/about-ndb/history/.

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Seth, Shobhit. “How the SWIFT System Works.” Investopedia, 30 Apr. 2021, www.investopedia.com/articles/personal-finance/050515/how-swift-system-works.asp. 

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Toussaint, Eric. “The BRICS and De-Dollarisation – CADTM.” CADTM, 6 Oct. 2025, www.cadtm.org/The-BRICS-and-de-dollarisation. 

“What Is the BRICS Group and Why Is It Expanding? | Council on Foreign Relations.” Cfr.org, 18 Oct. 2024, www.cfr.org/backgrounders/what-brics-group-and-why-it-expanding.

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Photo by SETA