To expand on this thought, it's notable that many more nations have joined with China and Russia. They have formed some sort of economic alliance, and they are called the BRICS nations, which stands for some of their founding members: Brazil, Russia, India, China, South Africa. (These nations alone make up 41% of the world's population.)
But since last fall, Egypt, Saudi Arabia, Mexico, NIgeria, Venezuela, Algeria, Turkey and Argentina have all joined as well. With their main goal of unseating the US dollar as the world's reserve currency. People who expect this to happen say this will cause the US dollar to collapse.
Edit: I should add that in 2021, Saudi Arabia's 50 year oil deal with the US ended. They did not renew(do you remember in the news of the report that Biden called Saudi Arabia and they did not pick up) this deal and instead allowed themselves to be courted by China, who has successfully replaced the US as Saudi Arabia's main oil economic partner. This does not bode well for the US dollar.