De-dollarisation - a threat to the US

De-dollarisation refers to countries reducing reliance and replacement of the U.S. dollar by other currencies as the global reserve currency. The global de-dollarization campaign is gaining momentum, as countries around the world seek alternatives to the hegemony of the US dollar. De-dollarization can have both positive and negative impacts on the United States.


China, Russia, Brazil, India, ASEAN nations, Kenya, Saudi Arabia, and the UAE are now using local currencies in trade. On the positive side, de-dollarization can increase financial stability by reducing the dependence of other countries on the U.S. dollar, which can make them less vulnerable to fluctuations in the U.S. economy. Additionally, de-dollarization can encourage countries to diversify their reserve currencies, which can lead to a more stable international monetary system.

On the negative side, de-dollarization can reduce the demand for U.S. dollars, which can lead to a decline in the value of the dollar and increase the cost of borrowing for the United States. Additionally, if other currencies such as the euro or the Chinese yuan gain in popularity as an alternative to the dollar, it could erode the U.S. role as the dominant global economic power and diminish its ability to influence international economic policies.

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