Experts Say Dollar Dominance Debate Misses the Point, US Needs Economic Focus

[sirty143]

Experts Say Dollar Dominance Debate Misses the Point, US Needs Economic Focus

Two experts have explained that the global debate on the future of dollar dominance misses the point because it doesn’t focus on how the dollar’s future will evolve. They warned: “If the U.S. doesn’t keep its house in better order, dollar dominance will be the least of our worries.” See more for yourself here.

Your opinion is greatly appreciated.

[TomPluz]

I think this is the first time that I appreciate a group of experts who are presenting a logical another side of the dedolarization movement which is slowly catching fire in many big countries especially those who are harboring ill intent against the United States of America. Certainly, in case the dollar will lose its dominance in international trade most especially with the end of the PetroDollar agreement, there can be gargantuan repercussions coming to the economy of the country. What we should also realize is that if the economy of the USA will fail, there will be global economic shock that can affect all people. I am sure however that this scenario has already been looked by China, Russia and Iran - the leading anti-USA crusaders in the global scene - and maybe they think that they can easily fill the void once there can be a vacuum of leadership in international commerce. At any rate, there is no stopping the dedolarization vision for now and it remains to be seen how will its fallout can be affecting all of us.

[Baofeng]

I think this is the first time that I appreciate a group of experts who are presenting a logical another side of the dedolarization movement which is slowly catching fire in many big countries especially those who are harboring ill intent against the United States of America. Certainly, in case the dollar will lose its dominance in international trade most especially with the end of the PetroDollar agreement, there can be gargantuan repercussions coming to the economy of the country. What we should also realize is that if the economy of the USA will fail, there will be global economic shock that can affect all people. I am sure however that this scenario has already been looked by China, Russia and Iran - the leading anti-USA crusaders in the global scene - and maybe they think that they can easily fill the void once there can be a vacuum of leadership in international commerce. At any rate, there is no stopping the dedolarization vision for now and it remains to be seen how will its fallout can be affecting all of us.

It boils down on how strong the economic of the US is for the dollar to continue it's dominance, other if their economy weakens due to many factors and the likes of them involving in the war in the Middle East, sooner or later they might suffer and losing their economy means losing their grip for the Dollar as trade money. And regarding crypto, as per experts,

The authors dismiss crypto assets and sanctions as threats to the U.S. dollar. “Some argue that crypto assets may help free the international monetary system from the dollar. Balderdash. Key stablecoins are pegged to the dollar. Watching other crypto assets prices fluctuate gives one a case of vertigo, the antithesis of a store of value,” they opined.

So at least they don't look at crypto as a threat to them and that should be the mindset though.

[Findingnemo]

It boils down on how strong the economic of the US is for the dollar to continue it's dominance, other if their economy weakens due to many factors and the likes of them involving in the war in the Middle East, sooner or later they might suffer and losing their economy means losing their grip for the Dollar as trade money. And regarding crypto, as per experts,

USD has already started to look weak, Saudi didn't renew their Perodollar pact it means they are exploring other currencies too for international trades not just the us dollars, it is not going to end the dominance but it's a sign that says dominance is not the same level like in 1970's period and ever since inflation of dollar is also on the higher side due to the wrong decisions of printing more money to keep the circulation everything looks bad on them. Still far way to go for something to replace the USD as reserve currency but they need to remember it's not guaranteed forever, it lasts only till they keep their value as stable as possible.

[yhiaali3]

Indeed, the article highlights very important points, such as that the real concern of the United States is not so much the loss of the dollar’s ​​dominance, but rather the failure of economic and administrative policies that could cause the United States to lose its position and destabilize the world as a whole.

In addition, the currencies that could be an alternative to the dollar in the event of loss of denomination, such as the Chinese renminbi, the Russian ruble, or the euro, are not that strong to fill the dollar’s ​​place in the global economy.

Personally, I do not see any difference between the dominance of the dollar or the dominance of any other currency because the problem will remain the same. The connection of the global economy to a central currency is the problem in itself.