Has The Fall of The US Dollar Begun? Why India And China's Rise Has Experts Sounding The Alarm
His remarks come at a time of mounting trade tensions between the United States and BRICS nations. America recently imposed steep tariffs on Indian goods, with a 50% duty being rolled out in two phases, the first 25% already in effect and the remainder set to be implemented from August 27.
The Trump administration has justified the measure by citing India's continued purchase of Russian oil. Brazil has also been targeted with similar tariffs, deepening the diplomatic rift.
Speaking on a podcast hosted by Cuban-American journalist Rick Sanchez, Celente explained why India is unwilling to bow to U.S. pressure. He said only around 2% of India's GDP is tied to trade with Washington, making New Delhi less vulnerable to economic retaliation.
According to him, India is increasingly becoming a self-reliant nation, which produces a large share of its goods domestically, a stage the United States itself once experienced before becoming heavily dependent on global supply chains.
The economist also reflected on China's transformation from a nation once lacking advanced industry to a leader in manufacturing and technology, particularly in sectors such as electric vehicles.
Western nations, he said, initially helped establish China's industrial base but now face competition from it. Much like India, China is moving towards greater self-sufficiency and reducing its reliance on foreign imports.
Celente was critical of what he sees as America's tendency to dictate economic policy to other sovereign nations, arguing that Washington has no legitimate authority to influence the internal economic decisions of independent states.
He believes this overreach is contributing to a growing resentment toward U.S. dominance across much of the world.
With BRICS now representing over 40% of the global population, the scale of this shift is significant. India and China each have around 1.4 billion citizens, compared to the United States' population of 347 million. This demographic advantage, coupled with increasing trade within the bloc, gives BRICS members leverage in challenging the U.S.-led financial system.
Celente predicts a bleak future for the U.S. dollar, describing the current trajectory as 'the death of the dollar'. He attributes part of the decline to U.S. monetary policy decisions, including the 2018 interest rate cuts under President Donald Trump.
In his view, the American economy is on a downward slope, and the weakening of the dollar is already well underway.
The BRICS nations have been actively working to reduce dependence on the dollar in international trade, seeking to bypass Western-dominated financial institutions such as the International Monetary Fund and the World Bank.
If this trend continues, Celente warns, the dollar's role as the world's primary reserve currency could diminish far sooner than Washington expects.
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