Dedollarization: Causes, Constraints, and Consequences

Dedollarization: Causes, Constraints, and Consequences

Executive Summary Dedollarization describes the deliberate effort by nations, financial institutions, and regional blocs to lessen their dependence on the United States dollar in trade, reserve management, and cross-border finance. What was once a rhetorical ambition of countries outside the Western alliance has become a strategic priority for a widening coalition that includes major emerging markets and even some US partners. The movement is mo…