The United States will abandon the dollar only if there are certain benefits for them. About this “Prime Minister” declaration Oleg Syrovatkin, Principal Analyst for Otkritie Investments Global Research.
“Over time, the dollar may be replaced by some new regional currencies common to the US and Canada, for example. This will be in line with global trends. However, in order to switch to a supranational currency, the United States needs to see the obvious advantages of such a move,” he said.
According to him, such a transition is not expected in the near future because it is convenient and profitable for the US to print dollars because the demand for them is still high.
He added that even a major collapse of the national currency would not prompt the country to abandon it. In 2009, Zimbabwe abandoned its own dollar and switched to the US dollar and sterling. Only in the USA such processes are not observed.
At the end of February, Bloomberg reportedHe said the dollar will begin to weaken sharply in the second half of 2023 and that its decline will benefit the global economy as it will help to overcome rising inflation.
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.