The looming shift away from the US dollar

The looming shift away from the US dollar

Within a generation, as the contours of the emerging multipolar world take shape, the U.S. dollar’s expansive role as the global trade and reserve currency will morph into a more modest role as the dominant trade and reserve currency within its geostrategic sphere of influence and a secondary currency elsewhere. Likewise, the currencies of the other great powers will be dominant within their respective spheres of influence: the Chinese renminbi,…