Global Policyarticle News Today

LONDON – Russia’s war in Ukraine, Vladimir Putin and Xi Jinping’s recent meeting in Moscow, and China’s apparent success in brokering a diplomatic rapprochement between Iran and Saudi Arabia have fueled renewed chatter about threats to the global primacy of the United States – and particularly to that of the US dollar.

Russia's war in Ukraine, Vladimir Putin and Xi Jinping's recent meeting in Moscow, and China's apparent success in brokering a diplomatic...

Jim O'Neill thinks renewed speculation about alternative currency arrangements for the US Dollar is generally misplaced

Perceived threats to the dollar’s role in the global financial system are nothing new; they have been a frequent occurrence since the 1980s. But until would-be challengers can find a credible alternative to the dollar for their own savings, the greenback’s dominance will not really be in doubt.