#TrumpVsPowell

What is the impact of what is happening to the dollar?

Besides the collapse of its value and the abandonment of its use in global markets, there is a possibility of the emergence of other currencies or completely different alternatives.

· China, in cooperation with Saudi Arabia and the UAE, is developing a digital trading system called M Bridge to trade in Chinese yuan instead of the dollar. The Bank of China has established a digital payment mechanism in yuan with ten countries in Southeast Asia and six countries in the Middle East, theoretically allowing it to bypass the US-led SWIFT system.

· Additionally, Bitcoin and digital currencies have seen a notable rise in recent days, which prompted current US Treasury Secretary Scott Posen to say that Bitcoin is now a safe store of value.