{"id":137977,"date":"2024-09-26T19:00:28","date_gmt":"2024-09-26T16:00:28","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137977"},"modified":"2024-09-26T17:18:04","modified_gmt":"2024-09-26T14:18:04","slug":"are-emerging-economies-poised-to-dethrone-the-dollar","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/are-emerging-economies-poised-to-dethrone-the-dollar\/","title":{"rendered":"Are Emerging Economies Poised to Dethrone the Dollar?"},"content":{"rendered":"<p>This statement reflects the dollar\u2019s dominant position in global finance, a status the U.S. has effectively exported worldwide. However, in recent years, emerging economies have begun a concerted effort to de-dollarize, aiming to diminish the dollar\u2019s global influence and making it more of an American concern rather than an international one.<\/p>\n<p>While the U.S. dollar still plays a critical role in global finance through remittances, currency exchanges, and international trade, it continues to overshadow other currencies.<\/p>\n<p>Most global transactions occur in dollars, which often sidelines alternative currencies. Despite initiatives aimed at reducing reliance on the dollar, it remains a dominant force in financial markets.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/china-unveils-biggest-stimulus-since-pandemic-will-it-be-enough-to-revive-growth\/\" title=\"China Unveils Biggest Stimulus Since Pandemic \u2013 Will It Be Enough to Revive Growth?\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2023\/06\/chinaaaaaaaa-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">China Unveils Biggest Stimulus Since Pandemic \u2013 Will It Be Enough to Revive Growth?<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The push for de-dollarization is particularly evident among developing nations like China, Russia, Brazil, South Africa, and India. These countries are striving to lessen their dependence on the U.S. dollar and promote their own currencies to bolster their economies.<\/p>\n<p>This trend aligns with a perceived decline in U.S. influence globally, as many emerging markets are now achieving higher GDP growth rates than the U.S. and its Western allies. For these nations, moving away from the dollar is seen as a long-term strategy rather than a temporary shift, intensifying the scrutiny on the dollar\u2019s stability.<\/p>\n<p>Should these efforts prove successful, the next decade could usher in significant changes to the global financial landscape. The dollar might weaken, leading to a rise in the strength of local currencies. Such a transformation could have profound implications for various sectors within the U.S., emphasizing the potential economic repercussions of de-dollarization.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former U.S. Treasury Secretary John Connally, who served under President Richard Nixon, famously remarked that &#8220;The dollar is our currency, but that&#8217;s your problem.&#8221;<\/p>\n","protected":false},"author":3,"featured_media":38270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-137977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Are Emerging Economies Poised to Dethrone the 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