The US sanctions against Russia, the “financial bomb”, caused a strong reaction from the world, and therefore the American monetary system was under threat. This was reported by the Chinese TV channel. CCTV.
The publication draws attention to the fact that the decline in the status of the United States in trade is an objective consequence of the development of global market competition. It is emphasized that because of the pressure, Washington started to implement trade protectionism and supported an “anti-globalization” wave.
The channel emphasizes that the decline in the US’s status in international trade means that the dollar has lost its indispensability, and that Washington’s protectionist measures have done nothing but force other countries to reduce the use of US currency.
Earlier, the position of the dollar as the world reserve currency became clear, according to Eurizon SLJ Asset Management. weakened 10 times faster by 2022.
While moves to undermine the dollar’s dominance are gradually gaining momentum, it is not surprising that the dollar’s reserve currency position is weakening ten times faster in 2022 than in the past two decades.