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