Lately, I’ve been feeling more and more that,
when people talk about “de-dollarization,”
they often ask the wrong question.
Everyone keeps asking:
Who can replace the U.S. dollar?
But what may be truly worth paying attention to is,
that more and more countries are starting to think:
If one day I can no longer use the dollar, can I still do business normally?
The renminbi doesn’t need to become the next dollar.
And CIPS doesn’t need to defeat SWIFT.
As long as more and more countries have a second option,
the biggest advantage of the U.S. financial system—
“you have no other choice”
has already begun to loosen.
And what really changes a system is often not that the old one suddenly collapses.
It’s that people begin to have a second choice.$CL $XAU
when people talk about “de-dollarization,”
they often ask the wrong question.
Everyone keeps asking:
Who can replace the U.S. dollar?
But what may be truly worth paying attention to is,
that more and more countries are starting to think:
If one day I can no longer use the dollar, can I still do business normally?
The renminbi doesn’t need to become the next dollar.
And CIPS doesn’t need to defeat SWIFT.
As long as more and more countries have a second option,
the biggest advantage of the U.S. financial system—
“you have no other choice”
has already begun to loosen.
And what really changes a system is often not that the old one suddenly collapses.
It’s that people begin to have a second choice.$CL $XAU