De-dollarisation and Internationalisation of Other Currencies: Geopolitics and Implications for Dollar Diplomacy : worldnews

[-] zephyreks@lemmy.ml 6 points 1 year ago

The progress towards dedollarization reduces the reliance countries have on the US, which is good for their economies but bad for the US.

That's a good thing overall.

[+] Tosti@feddit.nl 4 points 1 year ago* (last edited 10 months ago)

[deleted]

[-] zephyreks@lemmy.ml 3 points 1 year ago

That's the entire point of dedollarization, though: options means that countries can switch to another option if one country's currency isn't reliable

[-] taanegl@beehaw.org 2 points 1 year ago

SWIFT will have to be broken up, where one becomes a European only with the EURO as it's trading currency.

I'd wish we could decentralise it even further, but that's going to defeat the purpose, isn't it?

I used to think SWIFT was just a transaction system, but we can see how economy on a global level is truly all about political power - ideals be damned.

The liberal dream truly is dead. Long live economic feudalism.

[-] ShellMonkey@lemmy.socdojo.com 2 points 1 year ago

And here I distracted by how bad whatever AI made this messed up the $100 bill...

Frankly I don't see how the USD has remained as anything resembling a stable international standard given just how focused we tend to be in immediate gratification and maintaining stock growth rather than long term investments.

[-] zephyreks@lemmy.ml 1 points 1 year ago

I don't think they can legally defile actual money lol

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