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Suddenly Everyone Is Hunting for Alternatives to the US Dollar
- zerop 4y agoSame story in Yahoo Finance with full text and good discussions in comments: https://finance.yahoo.com/news/suddenly-everyone-hunting-alternatives-us-130000587.html https://finance.yahoo.com/news/suddenly-everyone-hunting-alt...
- snowpid 4y agothe comments are literally conspiracy theories and dooming. Not very helpful.
- hunglee2 4y agoImportant to note that 'alternatives' will not mean 'replacement'. USD will the remain dominant and preferred currency in terms of global transaction value but will lose relative market share. This is the inevitable consequence of the weaponisation of the dollar - countries who are concerned about national sovereignty / security will be setting up back-up channels with partner countries in case they are the next to be targeted. Global trade will get more complicated, more regionalised, therefore more expensive, leading to more inflation. New normal, as we say
- snowpid 4y agoIt is mildly interesting that countries are feared more about "weaponisation" of the dollar than the reason of sanctions: Russia invaded Ukraine because of the wish of annexation. The article shows their priorities.