RE: De-dollarization: why it becomes so significant worldwide?
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There are also potential downsides to the de-dollarization process as many countries have deep ties to the US dollar and its financial system. Additionally, de-dollarization can lead to greater fragmentation of the global financial system when different countries use different currencies for international transactions. And currently, the economic vulnerability in the US is seen with the recent collapse of the banks, the rising unemployment rate, and the fear of the recession making the economy in a risky zone for investors and the general people. And in such a situation de-dollarization adds more fire for a greater economical crisis in the world as predicted by many experts. Expert Predicts Looming Economic Collapse as BRICS Nations Unite Against the Dollar
In conclusion, de-dollarization is not a new concept that is gaining momentum around the world from a very early stage of the emerging dollar supremacy, particularly in countries that have been hit hard by US sanctions, pressures, and some issues with their foreign policies. China, Russia, and Iran are among the countries that have made significant strides in reducing their dependence on the US dollar. What are your thoughts about my points if you think some are missing here or some need to be revised or on which point I am wrong, please feel free to leave a comment which will help to know these together.
"as-salaam 'alaykum" @tanzil2024!
Do you believe that de-dollarization will benefit the countries of the Indian subcontinent, the Middle East and Russia, china?
"Wa-alai-kumus-salam" dear @goldgrifin007!
I don't think for India or China it is a big deal until they have the lowest earning from the western world as they still earned a lot from the west but for countries like Iran, Russia, and Middle East, it will be completely Devine for violating more human rights and the MAFIASM will be prominent in that region. That's my point of view regarding the de-dollarization.
Dear Hassan!
I don't use cryptocurrencies, so I don't know how dedollarization will affect me.
So, it's hard to understand your argument.
You need notbto understand in the case unless you have interest in economic space. Even for me, no impact either as I am not an investor.