#GlobalEconomy #USD #DeDollarization
Have you been bombarded with sensational headlines about the demise of the US dollar? 📉 Let’s cut through the noise and dive into the implications of countries moving away from using the US dollar in trade transactions.
🌍 Realistically, what does it mean when countries choose to trade in their local currencies rather than the US dollar?
🌍 Have countries in the past successfully or unsuccessfully attempted de-dollarization?
🌍 What are the pros and cons for the US and other countries if dedollarization takes place?
Let’s have a constructive discussion and share insights on this topic! What do you think could be a possible solution to mitigate the potential negative impacts of dedollarization? Let’s learn from each other and exchange valuable information. 💡
[It’s just not that important.](https://archive.nytimes.com/krugman.blogs.nytimes.com/2015/08/12/international-money-mania/) At least not economically.
And of course countries have moved away from this. The USD is merely the *biggest* reserve currency, not the only one, and with a (slowly) falling share.
Some people like to believe the USD is strong because it’s the biggest reserve currency, but it’s much more the other way around, plus a healthy dose of history.