• Skooby1@lemmy.world
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    1 year ago

    Dedollarization has begun. Takes a long time to get dollar denominated debts off balance sheets and to replace it with alternatives though.

    Slowly but surely.

  • Rumblestiltskin@lemmy.ca
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    1 year ago

    There will be many Americans who claim it is still 58% so it is still the reserve currency but the main point is the rate of change. And it is pretty quick.

    • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
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      1 year ago

      Exactly, it’s the overall trajectory that matters here. The other factor is that it’s a self reinforcing process, the more countries move off dollar to do trade the easier to becomes for other countries to do so.