Dollar trade has already declined 8% worldwide in the past few years. It’s going to happen much faster now.
How do you explain the vast demand for Eurodollars in the marketplace? Right now. As I type this.
The tiny side deals won't go anywhere. Global trade depends on a global monetary agreement - which is the Eurodollar.
You're seeing other connections come together right now, since there aren't enough Eurodollars to meet the demand - so they're establishing work-arounds to meet their current needs.