Will we see dollar hedgemony truely challenged in the coming decade or will it strengthen its grip in an uncertain world or during another economic crisis?
Its use a weapon has been prolific in recent years decimating "rouge states" economies, but its actions have drawn criticism not only from China and Russia, but some of its Western allies as well.
"Ever since the dollar cemented its role as the world’s dominant currency in the 1950s, it has been clear that America’s position as the sole financial superpower gives it extraordinary influence over other countries’ economic destinies. But it is only under President Donald Trump that America has used its powers routinely and to their full extent, by engaging in financial warfare. The results have been awe-inspiring and shocking. They have in turn prompted other countries to seek to break free of American financial hegemony."