Why the World Is Dumping the American Dollar | Vantage with Palki Sharma China and Brazil have struck a deal to trade in their local currencies instead of the US dollar. They joined a long list of countries including Saudi Arabia, Kenya and India. Why is the world attempting to de-dollarise? Palki Sharma decodes --- #vantageonfirstpost #palkisharma #firstpost #worldnews #globalnews Firstpost is an Indian news and media website. Get all the incisive opinions, in-depth analyses and other visual stories that matter to you and the world right here on this channel. Subscribe to Firstpost channel and press the bell icon to get notified when we go live. Follow Firstpost on Instagram: Follow Firstpost on Facebook: Follow Firstpost on Twitter: ...(read more)
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The American dollar has long been considered the world's most powerful currency. It is the standard currency for international trade, and countries around the world hold vast reserves of dollars in their central banks. However, there are growing signs that the world is beginning to dump the dollar. In this article, we explore some of the reasons behind this trend. One key reason why more countries are moving away from the dollar is the rise of rival currencies. For example, China's yuan has been gaining prominence in global trade, particularly in Asia. Other currencies, such as the euro and yen, are also becoming more widely used. As these currencies become more widely accepted, it reduces the need for countries to hold dollars. This trend is particularly evident in countries that are seeking to diversify their reserves away from the dollar to reduce their exposure to the volatility of the American market. Another reason why countries are moving away from the dollar is the increasing use of alternative financial systems. One of the most significant examples of this is China's Belt and Road Initiative, which is designed to transform international trade routes and create new economic zones across Asia, Europe, and Africa. The initiative operates outside of Western-dominated financial systems, and Chinese businesses and governments can make payments in their own national currencies, reducing the need for dollars. The US's increasingly parochial approach to international trade is also contributing to the global shift away from the dollar. Over the past few years, the US has been implementing protectionist trade policies, such as imposing tariffs on Chinese goods and withdrawing from international trade agreements. These policies have made countries more reluctant to hold dollars as a reserve currency, as the US's economic policies become more unpredictable. Finally, the world is becoming less dependent on the US economy. In the post-World War II era, the US was the dominant economic power, and most of the world's economic activity was tied to the American market. However, that is changing as more developing economies are emerging, particularly in Asia. These countries are becoming more financially and economically independent, reducing their dependence on the US dollar. In conclusion, the world is beginning to dump the American dollar for a variety of reasons. The rise of rival currencies, alternative financial systems, protectionist US trade policies, and the emergence of new economies are all contributing to this trend. However, it is unlikely that the dollar will lose its position as the world's most widely held reserve currency anytime soon. Still, countries are becoming more cautious about their reliance on the dollar and are seeking out alternatives, creating a more multi-polar financial landscape. https://inflationprotection.org/how-the-global-community-is-discarding-the-american-dollar-presented-by-palki-sharma-on-vantage/?feed_id=88075&_unique_id=643adaeb63b06 #Inflation #Retirement #GoldIRA #Wealth #Investing #americandollar #chinabrazildollar #chinabraziltrade #dedollarization #dedollarization2022 #dedollarization2023 #dedollarisation #dedollarizationchina #globaldedollarization #PalkiSharmafirstpost #PalkiSharmanews #PalkiSharmaVantage #usdollar #usdollarcollapse #usdollarcollapse2023 #usdollarindianrupees #usdollarratetoday #usdollarratetodayinindia #Vantage #Vantagelive #VantagePalkiSharma #InvestDuringInflation #americandollar #chinabrazildollar #chinabraziltrade #dedollarization #dedollarization2022 #dedollarization2023 #dedollarisation #dedollarizationchina #globaldedollarization #PalkiSharmafirstpost #PalkiSharmanews #PalkiSharmaVantage #usdollar #usdollarcollapse #usdollarcollapse2023 #usdollarindianrupees #usdollarratetoday #usdollarratetodayinindia #Vantage #Vantagelive #VantagePalkiSharma
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