Will de-dollarisation sink the greenback?

Tuesday 18 April 2023

My own view is still de-dollarisation is over-egged. Yes, there is a move on to shift reserves and transactions into other currencies amid Chinese allies post-Ukraine War. But this is marginal in the scheme of things, largely because there are no other currencies with the advantages of USD:

Credit Agricole asks the question.

USD: friendshoring vs dedollarisation

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.