Global de-dollarization is accelerating as countries shift to a multi-currency system, using alternatives to the U.S. dollar for trade, reserves, and investments to boost autonomy and resilience amid changing geopolitical dynamics. American economist Jeffrey Sachs, director of the Center for Sustainable Development at Columbia University, discussed this transformation in an interview with Russian state news agency TASS on May 30

The economist emphasized the parallel between global political and financial developments, stating:

We are moving to a multi-currency world, just like we’re moving or have moved to a multi-polar world. So, there will be a greater international role for the ruble, for the rupee, for the renminbi than in the past.

He pointed to a growing consensus among policymakers and economists that the dominance of the U.S. dollar, once considered unshakable, is now facing structural challenges.

Sachs elaborated on the changing dynamics in international finance, predicting a waning role for the dollar in key global functions. He opined:

The share of international finance in US dollars, either to settle payments or to hold foreign exchange reserves or to hold investments, will diminish.

He also asserted that this shift is not a distant possibility, but rather a process already in motion: “So, I think we’re already in that period of moving to a multi-currency system.” This outlook aligns with initiatives by major international blocs such as BRICS, the Shanghai Cooperation Organization (SCO), and the Association of Southeast Asian Nations (ASEAN), which have all taken active steps to promote local currency settlements and explore new financial arrangements that reduce dependence on the U.S. dollar. These moves are seen by analysts as a broader trend in global finance that reflects the redistribution of economic power and a desire for greater monetary sovereignty.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。