Unlikely in the foreseeable term, not because the world loves dollars, but because there are few good alternatives. Euros are probably the best alternative, but

Unlikely in the foreseeable term, not because the world loves dollars, but because there are few good alternatives. Euros are probably the best alternative, but studies have suggested that the US is a better place for holding assets. See, for example, https://www.nber.org/digest/apr20/why-euro-hasnt-become-international-currency-stature https://www.nber.org/digest/apr20/why-euro-hasnt-become-inte... Money keeps flowing into the US because it is perceived as safer.