Is the Dollar’s Top Dog Status Now About to End?
By: Atul Singh & Glenn Carle
Dollar's global dominance wanes, Russia, Brazil, Saudi Arabia shift to renminbi, Russia-Iran trade in rubles, BRICS currency talk.
Doomsdayers foresee dollar's demise, yen, euro, renminbi rise. But US economic model remains unparalleled, attracting investment.
Dollar's waning dominance due to historical shifts: US power decline, European recovery, and Russian resilience.
Post-WWII, US dominated: 50% global GDP, factory of the world. Dollar's dominance wanes as other economies rise.
China rises as workshop of the world, biggest commodity importer. Renminbi gains traction in cross-border transactions.
Dollar remains unchallenged as reserve currency due to yuan's limitations and Chinese capital controls.
China's financial system lacks investor protections, transparency, and efficiency despite its position as the global factory.
Euro's long-term survival uncertain due to north-south divide, Greek debt crisis, and Italy's economic challenges.
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