The US-dominated International Monetary Fund warns of an “erosion of dollar dominance,” noting use of Chinese yuan in central bank reserves is increasing and Western sanctions on Russia could backfire
Good article Ben; as expected the story won’t get much traction in the MSM even though the Financial Times did a feature on it. It’s going to be like all good things... coming to those who wait. Nobody expects the Dollar’s primacy to end over night, but it’s definitely going in a promising direction. The US only have themselves to blame. Weaponising the IMF & holding Central Banks to ransom, forcing Governments to bend to the US’ will, has made many countries begin to look elsewhere. About time too.
Good article Ben; as expected the story won’t get much traction in the MSM even though the Financial Times did a feature on it. It’s going to be like all good things... coming to those who wait. Nobody expects the Dollar’s primacy to end over night, but it’s definitely going in a promising direction. The US only have themselves to blame. Weaponising the IMF & holding Central Banks to ransom, forcing Governments to bend to the US’ will, has made many countries begin to look elsewhere. About time too.