De-dollarization: A Rising Trend | Barcelona Metropolitan

Описание: The hegemony of the dollar as the reference currency in global trade and as an instrument of monetary liquidity have granted power and privilege to the US for decades, but in recent years there has been fear that a growing number of countries are managing to decouple their economies from dependence on the dollar.

Russia and China De-dollarize

Over the past decade, Russia and China have initiated programs and signed de-dollarization agreements to protect and shield their economies from US government and International Monetary Fund (IMF) sanctions. By 2020, less than half of bilateral trade transactions between these two countries were in dollars, and this year Russia has announced that all of its National Investment Funds will move away from dollar to euro or gold denominations.

It is not surprising that other countries such as Venezuela, Turkey, Pakistan or Iran be also in the process of de-dollarization, but perhaps it was not so predictable that the European Union would sign similar trade agreements and promoted, like these countries, its own digital currency to diversify its options and reduce the risk of a possible paradigm shift.

The dollar is not in danger of losing its status as a global currency, but its supremacy as a trading currency, and as a bargaining tool, may be seriously eroded if the United States continues to abuse its position of power.

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De-dollarization: A Rising Trend | Barcelona Metropolitan