De-Dollarization: BlackRock CEO Speaks On US Dollar’s Future
There is no denying that the US dollar has seen a gradual decline in global dominance. The de-dollarization movement has taken substantial hold over international trade. China is one of the most significant advocates for bringing a dollar alternative to the international table. BlackRock’s CEO also shed some light on the developing situation.
Higher interest rates have ballooned the US federal debt. President Trump has taken a strong stance against America’s growing debt. The current US debt is around 120% of the total annual economic output. This development could further push the de-dollarization agenda. It could also lead to the US losing its economic dominance.
