As it’s been pointed out by a multitude of experts from both the US and other regions of the world, a
barrage of attacks with the goal of eroding Washington’s hegemony at
the energy trading market will be one of the main battlefields where the
future of America’s economic dominance will be decided.
Against this backdrop it’s only logical
that countries are seeking ways to turn their backs the dollar or in the
very least diminish their dependence on the ever-looming US currency,
notes the Neu Zürcher Zeitung. It argues that this trend was triggered
by the outright protectionist practices by the Trump administration that
were introduced at a time when Washington would start trade wars left
and right.
According to the data presented by
the CNBC, the United States is currently waging economic warfare
against one tenth of the world’s countries with cumulative population of
nearly 2 billion people and combined gross domestic product (GDP) of
more than 15 trillion dollars.
Additionally, the media source would point out that in
recent months it seems that America’s unwavering commitment to fight
all of the world’s scourges has brought all those governments and the
wealthy individuals who support them to a critical mass, joining forces
to create a parallel financial system which would be out of America’s
reach. Should they succeed, the impact on America’s global posture would
be devastating.
It would only be
logical if American policymakers were mindful of the fact that at least
25% of the world’s population are now committed to putting an end to the
global dominance of the US dollar.
As the infamous green
bills are gradually losing their status of the world’s reserve
currency, regular Americans will inevitably feel additional financial
strain being put on their households. To make the matters worse, the
global depolarization effort is being led by Russia and China that have
emerged as full-fledged international players in recent decades, and
they seem to have little tolerance for being pushed around. Further
still, even the fact that Euro was established as a currency by Brussels
can be regarded as a part of the same effort. For sure,
de-dollarization is a slow process, but at this point it seems to be
irreversible as there’s no chance that an emerging multi-polar world is
going put up with the US dollar primacy.
However, there’s no
arguing that this process, no matter how natural it is, was accelerated
considerably by the sitting American president. By pursuing policies
loosely described as “America first”, Donald Trump has got the US drawn
in a number of trade wars, along with re-introducing protectionist
practices to the US foreign policy. However, the more the Trump
administration tries to negotiate favorable terms for American elites
under the gun, the more countries are getting alienated by Washington.
https://journal-neo.org/2018/10/19/washington-s-protectionism-is-only-leading-to-the-us-dollar-demise/
https://journal-neo.org/2018/10/19/washington-s-protectionism-is-only-leading-to-the-us-dollar-demise/
https://journal-neo.org/2018/10/19/washington-s-protectionism-is-only-leading-to-the-us-dollar-demise/
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