Japan's currency was one of the first challengers to the U.S. dollar—why 90s predictions of a 'yen bloc' fell apart

Japan's currency was one of the first challengers to the U.S. dollar—why 90s predictions of a 'yen bloc' fell apart

Prophecies that the U.S. dollar will lose its status as the world’s dominant currency have echoed for decades—and are increasing in volume. Cryptocurrency enthusiasts claim that Bitcoin or other blockchain-based monetary units will replace the dollar. Foreign policy hawks warn that China’s renminbi poses a lethal threat to the greenback. And sound money zealots predict that mounting U.S. debt and inflation will surely erode the dollar’s value to…