Given the recent successive shocks to the U.S. economy and their global impact, questions arise concerning dominance of the U.S. dollar over the global economy. Despite being the world’s primary reserve currency, the dollar faces increasing challenges and deterioration, particularly with rising uncertainty about the U.S. economy’s future and the reorganization of the global financial and economic systems into separate non-overlapping blocks such as, the BRICS.

While moving away from the dollar in trade transactions could become possible, achieving this globally would require years and careful measures due to the deep entanglement of the global economy with the dollar and significant U.S. global economic interventions. Any shift away from the dollar could have negative effects on the global economy, given many states and companies rely on it in their trade and investments.

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