Usurping Dollar’s Dominance Over World Is a Near Impossible Task
- America’s deep capital markets, economy seen as unparalleled
- Yuan viewed as afterthought even with progress: PineBridge
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Dethroning the dollar is easier said than done.
That’s the conclusion of investors after Washington’s freeze of Russia’s dollar holdings created fresh impetus among central bankers to rethink the security of access to foreign-exchange reserves. The move fueled speculation that countries such as China could redouble efforts to unshackle itself from greenback-denominated financial systems and look for alternatives.