Every country outside the Globohomo Bloc is tring to move away from the US dollar.
When large numbers of countries have a political and national interest motivation, they usually find a way.
Meanwhile, the BoomerCons on here can’t see the danger, and are like:
“The Sterling is Eternal. Brittania will ever rule the waves !”
You wrote this so "matter of factly". Yet without a shred of evidence.
I write based on facts. You write based on emotions.
You're probably referring to the BRICS nations - who are all factory nations and only survive based on sales to other nations.
China is economically destroyed. Even their manufacturing is moving to other Asian nations, like Vietname.
Russia survives through sales of natural gas.
India is a train wreck of a nation whose main export are people fleeing to the US for a better life.
Brazil is a drug-infested place of last resort.
South Africa just exists in BRICS to give the continent of Africa a representative.
These nations are going to disrupt the US dollar as the reserve currency.
Please...
When you sell bonds you end up with dollars. Its the only way to sell US notes and bonds. So now they have more dollars. They could be using them to buy bitcoin and gold. Or they could be buying some commodities. We know that their currency is falling. The dollar is very high against all currencies and especially China and Japan. The dollar has been falling against gold and bitcoin but not oil. China would normally be getting dollars through trade deficits with US consumers. But the trade deficit with China has shrunk dramatically in 2023 and 2024. China would need to sell $100 Billion in US 10 year notes annually to make up the difference.
China needs America or they turn back into the third world country they were in 1980. America has its spending problems. But China dumping US dollars is not an issue.
America’s biggest issue is that our governments from local to national are spending and taxing so much that it is taking over the economy. Our low unemployment is because governments are absorbing all the excess workforce. Pretty soon that will become the issue. Governments are obscuring the natural business cycle. We can’t have a real recession because the government is too big and it keeps spending right through a would be recession. Local property taxes and high inflation will make life too expensive in the US. Expect life to get very expensive in the near future. Government dominated economies don’t have recessions, but they don’t have growth either.