NCCC members’ meeting – Challenging the USD: What a BRICS-led trade system means for the world – and your China related business

The dominance of the US dollar is no longer uncontested. A growing group of countries – led by China and the remaining BRICS bloc ‒ is actively building alternatives to the dollar-based trade and settlement system. This is not ideology or long-term speculation; it is already influencing how trade is financed, how contracts are written, and how risk is distributed ‒ including for Norwegian companies doing business with Chinese counterparties. What is the situation today, and what scenarios to expect?

For companies operating across borders, especially between Europe and Asia, the implications are concrete and immediate: What happens when counterparties prefer settlement outside the dollar system? How do sanctions risk, currency fragmentation, and parallel payment infrastructures affect long-term contracts?

And how should boards reassess exposure when the financial architecture itself is becoming multipolar?

On 11 February, NCCC convenes senior voices in finance, macroeconomics and law to address the practical consequences of a world moving away from dollar exclusivity ‒ towards a BRICS-driven, China-anchored alternative. The focus is not geopolitics for its own sake, but decision-relevant insight for NCCC members and other companies with long investment horizons, complex supply chains, international partnerships and business stemming from China.

The mission of the Norwegian-Chinese Chamber of Commerce is to provide a professional and social forum for those wishing to participate in the Norwegian-Chinese business and cultural communities, thus promoting business opportunities between the two countries. Our aim is to become the preferred forum for Norwegian-Chinese business participants in Norway.