Yes. And Iran and Argentina have applied to join the BRICS. Saudi Arabia is rumored to be considering a move away from the US fist bump dollar. At least Nancy Pelosi helped to mend fences with China ....
https://unherd.com/thepost/the-new-brics-alliance-is-a-mortal-threat-to-the-west/
If the US Dollar is dropped as the World Reserve Currency if only for the BRICS countries, then the inflation we have now would be mild until the economy would stabilize and who knows how long that would take.
It would make all imports really expensive and hopefully that would spur companies to start making more stuff in the USA to reverse that trend, until then hold on to your wallets.