Backlash Against Weaponized Dollar Is Growing Across the World

Korkki@lemmy.world to World News@lemmy.world – 41 points –
Backlash Against Weaponized Dollar Is Growing Across the World
finance.yahoo.com

(Bloomberg) -- All around the world, a backlash is brewing against the hegemony of the US dollar.

35

You are viewing a single comment

Using local currencies is good for the economies themselves, as it gives them autonomy.
However, These governments can weaponize their own currencies too.
So using a 3rd party stable currency to assure value over time and that neither party could manipulate the value makes sense.

Also, a lot of economies carrying a stake in each others currency will make going to war more costly (for everyone), meaning that it might serve as a stabilizing factor. I cannot imagine the Yuan replacing the dollar, as China will not hesitate to weaponize it if it suits them.

5 more...