The Americans are using the dollar as a tool of coercion in the world, thereby reinforcing the de-dollarization trend and contributing to the loss of their dominance in the global arena. This is reported by Lenta.ru, referring to the Chinese edition of Global Times.
The publication notes that the United States has turned dollar hegemony into a weapon. Only in this way did they manage to arbitrarily and unilaterally impose sanctions. They also got the opportunity to shift their own economic risks onto the conscience of the rest of the world community with the help of a monetary monopoly.
The US itself is setting off an inevitable end to dollar dominance that worries many American strategists and economists.
Observers are known to call America’s restrictions against the Russian Federation a manifestation of Washington’s hegemonic ambitions. Thus, they increase the desire of other countries to reduce dependence on the US currency. These countries are increasingly seeking to replace the SWIFT system in order to avoid the “monetary coercion” of the United States, which is becoming “more obvious and stronger” every time.
It is noted that this is why China and Brazil signed an agreement on the implementation of financial and trade transactions in real and yuan. This is due to the fact that countries want to bypass the intermediary in the form of the dollar.
“History teaches us that the decline of a hegemony often begins with its currency,” the publication concluded.
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