Noah Smith agrees as well: "I’ve argued that dollar-euro financial hegemony won’t be replaced as a result of these sanctions, simply because none of the altern

Noah Smith agrees as well: "I’ve argued that dollar-euro financial hegemony won’t be replaced as a result of these sanctions, simply because none of the alternatives is ready to replace it. But ..." https://www.noahpinion.blog/p/dont-worry-about-de-dollarization https://www.noahpinion.blog/p/dont-worry-about-de-dollarizat... I think the system is stable instable: Dollar Inflation will continue. China will continue to have problems investing its trade surpluses sensibly. Western policy towards Russia and China will become even more hostile, but it will not come to a big bang. At some point, we will realize that we have to solve the problems together, perhaps the Bancor will be introduced after all.