this post was submitted on 05 Sep 2025
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I’m thinking that collapsing dollar would be bad for all of us instead of rapid de-dollarization we need to create another alternative to end dollar hegemony. Not a economist but still the dollar will be relevant currency for world trade and not changing any soon.
But that's what BRICS is working on. Not going to say that I have any semblance of economic knowledge, but rapid dedollarization would mean countries would likely be pushed to agree to trade using local currency of respective countries.
Short term, it'll be hard, uphill struggle. Long-term though? It'd be amazing for the Global South.
So far this trend is observable through China and Russia:
https://cepa.org/comprehensive-reports/going-steady-china-and-russias-economic-ties-are-deeper-than-washington-thinks/
I think I might've read that other countries are warming up to do the same, but I don't know.