Dedollarization is here

Dedollarization is here – expert

By Xinhua News Agency

May 31, 2023 12:19 am

NEW YORK CITY: Dedollarization appears to be an unstoppable trend as countries around the world look to reduce their dependence on the US currency, said Eli Clifton, a senior advisor at the Quincy Institute, in an article posted on the website of Signs of the Times last week.

'A major driver is Washington's weaponization of its currency via sanctions, covering 29 percent of the global economy and 40 percent of global oil reserves,' said the article.

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