alt Hacker NewsFor those who are not bothering to read this,the article essentially states that de-dollarization is happening in pockets (e.g., reserves down to ~58-60%, Treasuries foreign ownership at 30%), but the dollar's core dominance persists.
What would replace it? I guess the options are Yuan, Gold, Oil or maybe BRICS in the future, none of which are safe, stable, and liquid.
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the BRICS Unit was proposed to resolve the "Triffin dilemma", which is that the structural deficit necessary to maintain reserve status inevitably erodes trust in the currency over time. China's economy also relies on exports which would not be helped by reserve status. which is to say an eventual replacement may not be the yuan or any other single currency
Nothing. The Dollar is antifragile. The worse it gets, the more entrenched it becomes. [0]
Countries are replacing it with Yuan, Euro, Yen, Gold, Oil, and more stuff.
I can't believe people actually bring BRICS in serious discussions.