Article,
De Dollarization How Good Or Bad
INTERNATIONAL JOURNAL OF TREND IN SCIENTIFIC RESEARCH AND DEVELOPMENT, 8 (6): 269-274 (December 2024)
Abstract
The storm is already brewing lately in the international finance arena by some market participants’ call for de dollarization which will lead to the death of the US dollar. De dollarization is the process of reducing the dominance of the US dollar in global trade and financing activities. Other currencies according to recent data are gaining ground, and the US dollar is no longer the alpha currency it once was. Candidly, the US dollar has over dominated and rendered most currencies of other countries worthless, most especially those of the developing or third world countries, making them further to be under developed and poorer. The call for de dollarization is due to the rise of non US economic blocs and increasing political tensions which have caused countries to rethink their dependency on the US dollar, hence the desire for decreased reliance on the dollar. For this reason, some countries are currently strategizing to promote regional integration and bilateral relations in an effort to protect against geopolitical risks. The paper tries to look at the pros and cons of de dollarization, the challenges, and the probable way s for a common resolve to the issue. Paul A. Adekunte | Matthew N. O. Sadiku | Janet O. Sadiku "De-Dollarization: How Good Or Bad?" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-6 , December 2024, URL: https://www.ijtsrd.com/papers/ijtsrd71576.pdf Paper Url: https://www.ijtsrd.com/other-scientific-research-area/other/71576/dedollarization-how-good-or-bad/paul-a-adekunte
Tags
- bilateral
- de-dollarization,
- dollar
- geopolitical
- integration,
- of
- regional
- relations,
- risks,
- the
- under-development,
- weaponization
