De-dollarization – The Global Movement towards Monetary Independence
June 19, 2023
The global economy has been dominated by the US dollar for decades, with many countries using it as their primary reserve currency. However, in recent years, there has been a growing movement towards de-dollarization, a term used to describe the shift away from the dollar and towards other currencies or alternative payment systems. This movement is motivated by various factors, including concerns about US economic and political power, the desire for monetary independence, and the need to protect against currency volatility. In this article, we will explore the concept of de-dollarization, its implications for the global economy, and the challenges and opportunities it presents.