The impact of the conflict between theUnited States and BRICS countries on the dollar's dominance in the global financial system - a quantitative study for the period 2000-2023

The international arena is witnessing a series of changes in the international system that have led to the emergence of global blocs such as the G7 and BRICS countries. This study aims to analyze the impact of the conflict between the United States and BRICS countries on the dominance of the dollar and the prevailing global financial system. The study found an effect of both gross domestic product and the volume of foreign trade of BRICS countries on the proportion of international reserves in dollars, but these countries have not provided possible alternatives to the dollar. Removing the dollar requires strong financial tools, such as alternative payment systems and mature capital markets.