North Korea comments on BRICS impact on US dollar

North Korean media said today that the expansion of the so-called BRICS group could accelerate the end of the dominance of the US dollar.

North Korean international affairs analyst Young Il-hyun criticized the United States usage of the dollar and its military power as means of “hegemony.”

The BRICS – Brazil, Russia, India, China and South Africa – held a meeting of its foreign ministers in South Africa earlier this month, according to South Korea’s Yonhap news agency.

“Unprecedented international moves to limit the use of the dollar and the tendency of many countries to join BRICS accelerate the end of the dollar as a major currency and thus the end of U.S. dominance,” the analyst said.

Young continued: “Today, the United States has resorted to all means and ways to maintain the dollar’s advantage as a major currency, and North Korea has recently criticized US foreign policies through articles by analysts in international affairs and broadcast by the Korean Central News Agency.