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Amid Trump’s tariffs and Asia’s digital pivot, the quiet end of dollar dominance is under way
As countries pursue digital alternatives and build new trade rails, we could be witnessing early signs of de-dollarisation.
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Some 88 per cent of all global foreign exchange transactions still involve the US dollar, thanks to its immense liquidity, trust and established infrastructure.
PHOTO: REUTERS
Sam Ahmed
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Countries across Asia and the Global South are quietly redrawing the contours of global finance amid growing geopolitical tensions and economic volatility.
The increasing use of sanctions, tariffs, and extraterritorial financial controls by the United States has raised growing unease over continued reliance on the US dollar. Once viewed as a stable and liquid medium of exchange, it is now increasingly seen as a source of volatility and a means of oversight which goes beyond the control of sovereign nations and global corporations.
