The chief economist at S&P Global has predicted that the U.S. dollar “will no longer be the dominant world currency.” Highlighting the diminishing influence of the USD, he pointed out that an increasing number of countries are de-dollarizing, noting that the Chinese yuan is growing in popularity as a trading currency. Economist Expects US Dollar to Lose ‘Dominant World Currency’ Status S&P Global’s chief economist, Paul Gruenwald, shared his prediction about the end of the U.S. dollar’s dominance at a conference hosted by the ratings firm in London on Tuesday. The U.S. dollar “doesn’t have quite the pull it used to … There’s a fragmentation around the edges,” the economist stated, elaborating: We’ve got other things happening outside of the dollar world. The implementation of aggressive U.S. sanctions, including the freezing of Russia’s reserves worth around $300 billion last year, has prompted numerous countries to de-dollarize and increase the use of national currenc
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