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The latest de-dollarization efforts are gaining momentum close present arsenic much than 50 countries from crossed the globe person really reached retired to the White House for commercialized talks pursuing caller tariff impositions. This planetary economical shift, which is ongoing arsenic I’m penning this piece, reflects immoderate of the increasing concerns astir the US dollar dependency and besides has countries exploring alternate currencies.
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Global Economic Shift: How Countries Are Reducing US Dollar Dependency and Exploring Alternative Currencies
Source: Watcher GuruThe Rush to Reduce Dollar Reliance
Kevin Hassett, US National Economic Council director, confirmed the surge successful countries seeking caller commercialized arrangements:
“I got a study from the USTR past nighttime that much than 50 countries person reached retired to the president to statesman a negotiation.”
These de-dollarization talks are occurring conscionable aft Trump’s sweeping tariffs person taken effect, with immoderate of the progressive nations facing whopping rates arsenic precocious arsenic 50%. Cambodia, Bangladesh, and besides Laos are among the hardest deed with tariffs of 49%, 37%, and 48% respectively.
International Responses
Various countries are responding otherwise to these economical pressures. China has announced the astir assertive countermeasures, portion India is taking a much diplomatic attack to trim US dollar dependency astatine this point.
Chinese overseas ministry spokesperson Guo Jiakun stated:
“The marketplace has spoken.”
On the different side, the European Commission President Ursula von der Leyen besides expressed immoderate of her concerns portion keeping the options open:
“The President expressed her heavy interest implicit the tariffs announced by President Trump connected 2 April and the harm they airs to each countries.”
Just spoke with @Keir_Starmer and shared my interest implicit the interaction of the US tariffs connected the planetary economy.
We besides discussed information & defence and the upcoming EU-UK Summit.
Read-out ↓
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Economic Impact and De-dollarization Outlook
The tariffs person already caused marketplace turbulence successful caller days. JP Morgan analysts person accrued their planetary recession prediction to 60%, showing the superior quality of this de-dollarization question that we’re presently witnessing.
Treasury Secretary Scott Bessent attempted to downplay concerns:
“Look, the markets are integrated animals. And you ne'er cognize what the absorption is going to be.”
He further characterized the situation:
“Tariffs are a one-time terms adjustment.”
US Commerce Secretary Howard Lutnick confirmed the duration of these measures:
“They are decidedly going to enactment successful spot for days and weeks.”
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As geopolitical tensions proceed to emergence and alternate currencies besides summation traction, this ongoing de-dollarization inclination represents a cardinal displacement successful the planetary economical order. It is besides challenging the decades-long dominance of the US dollar successful planetary commercialized and finance.
English (US) ·