Tuesday, 16 May 2023 21:24
Is dedollarisation a chimaera or is it real? (III)
The present international financial system centred around the US dollar is under pressure from several factors: the use of the dollar to punish other countries, the inflation in the US, the increasing US indebtedness, and the appearance of digital currencies and their potential for making international payments much faster and cheaper without using the dollar. The future is probably a fragmented and regionalised international financial system and a much reduced role of the dollar. But can it work?