Backlash against weaponised US dollar is growing across the world
Many global leaders say the US dollar is used to push Washington's foreign policy priorities. Read more at straitstimes.com.
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Many global leaders say the US dollar is used to push Washington's foreign policy priorities. Read more at straitstimes.com.
Brazil and China recently struck a deal to settle trade in their local currencies. India and Malaysia have signed an accord to ramp up the usage of the rupee in cross-border business. Even France is starting to complete transactions in yuan.
All around the world, a backlash is brewing against the hegemony of the U.S. dollar.
The currency’s centrality to the global payments system also allows America to wield unique influence over the economic destiny of other nations.
Several major economies, including Brazil, India and China, have recently struck deals aiming to end reliance on the use of US currency