"Nothing Lasts Forever": Next-Generation Currency Contenders Eye the Post-Dollar Era
"Nothing Lasts Forever": Next-Generation Currency Contenders Eye the Post-Dollar Era The dominance of the US dollar as the world's primary reserve currency is facing unprecedented challenges. After more than half a century of maintaining its position as the global financial system's backbone, the dollar's supremacy is being questioned by emerging alternatives that could reshape international monetary order. Structural Limitations of Dollar Hegemony Exposed According to the latest data from the International Monetary Fund's Currency Composition of Official Foreign Exchange Reserves (COFER) report for Q4 2024, dollar assets still maintain an overwhelming share of global foreign exchange reserves. However, experts are closely monitoring subtle but significant shifts beneath these surface statistics. The fundamental issue with dollar hegemony lies in what economists call the "Triffin Dilemma...