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Declining Dominance of the US Dollar Spurs Interest in Alternative Currencies
Declining Dominance of the US Dollar Spurs Interest in Alternative Currencies
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BTCCSquare news:
Harvard economist Kenneth Rogoff warns of waning global confidence in the US dollar, citing geopolitical weaponization as a key driver. The euro and Chinese yuan emerge as viable alternatives, though no singular competitor currently challenges dollar hegemony.
Central banks may reduce dollar reserves without immediate currency substitution, instead curtailing Treasury investments. This strategic shift reflects growing unease with Washington's use of financial sanctions as foreign policy tools.
Trade partners increasingly favor bilateral settlements in non-dollar currencies, particularly for energy transactions. The trend signals a gradual reconfiguration of global reserve systems rather than an imminent dollar collapse.
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