De-dollarisation

As far back as 1971, during the Nixon administration, the US Treasury Secretary John Connallyshocked the world when, after discussions with a group of European finance ministers, he famously remarked, “The dollar is our currency, but it’s your problem.” Since the Second World War the US Dollar has been the unchallenged global reserve currency, used for nearly all international trade, and the preferred asset for countries, individuals and companies as a store of wealth. However, with so much of the global economy reshaping itself in the post-pandemic landscape, is the reserve status of the US Dollar going to be the next domino to fall?

By Published On: March 20th, 2024Categories: News0 Comments on De-dollarisation

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