De-Dollarization: 3 Reasons Why The US Dollar Will Reign Supreme
The de-dollarization movement has found a lot of subscribers over the last decade. The BRICS bloc of nations has particularly spearheaded the move away from the US dollar. China is one of the leading countries making a move against the USD. Despite the growing distaste for the USD, there is little chance of other alternatives, at least for the time being. Let’s look at three reasons why the USD will reign supreme for the foreseeable future. Also Read: HEX Rallies 82% In 14 Days: Can It Hit $0.005 Next? 3 Reasons Why The De-Dollarization Movement Will End In Smoke 1. The US Dollar Remains Unrivaled Source: Financial Times Montage As of 2024, the USD accounts for nearly 58% of global foreign exchange reserves. The euro and yuan make up only 20% and 2.7%, respectively. The US dollar is also used for 88% of international transactions via SWIFT. The de-dollarization faced substantial headwinds on this front. 2. US Economic and Military Hegemony Source: military.com / Christopher Camero...