As a global financial hegemon, the United States has always had unparalleled influence and privileges. One of its most unique "privileges" is that of the US dollarSeigniorage, that is, the hegemony of the dollar. As globalReserve currency, the dollar not only hasInternationalthe advantages of payments and reserves, and the ability to influence countries around the worldEconomyDestiny. However, with the United StatesDebt crisisAs it intensifies, there are growing signs of a weakening of the dollar's hegemony. More and more countries are gradually reducing their dependence on the US dollar and making attempts to de-dollarize.
In the history of the past,And ** are all naturalCurrency。The United States has relied onBretton Woods systemCompare the U.S. dollar withpegged to set the U.S. dollar toWorld currency。However,Bretton Woods systemThe period of dollar hegemony has gone through crisis after crisis andCrisis of confidence。In 1960, the first dollar crisis broke out, LondonThe market is sharply depreciated, the dollar is depreciated, the dollarCrisis of confidenceThe first signs are emerging. Since then, dollar crises have erupted frequently, and the distrust of the dollar has gradually increased in countries around the world. As the United States was mired in the Vietnam War as well as at homeEconomyThe situation deteriorated in the United StatesReservesSignificantly lower than debt. As a result, in 1971, the United States announced that it would stop using it for other countriesExchange for US dollars,Bretton Woods systembegan to disintegrate.
Historically, dollar hegemony was once far more powerful and rampant than it is now. However, with the United States constantly dying and the long war descending, and the debt piling up, the hegemony of the dollar eventually collapsed. EspeciallyWars in the Middle EastWhen the outbreak occurred, the United States announced that it would help Israel and strike at Arab countries, but Arab countries began withOilThe embargo was used against the United States, which led to problems in the national strength of the United States for a short period of time, and eventually evolved into the current situation. Debt crisis, **Deficit,CurrencyIssues such as devaluation have eroded the world's trust in the dollar, and many countries have begun to explore alternativesReserve currency。For example, countries such as Russia and China have already begun to increaseReservesto reduce dependence on the US dollar.
With the collapse of the hegemony of the dollar, one possibility isThe gold standardInstitutions are emerging again. The gold standardThe system refers to:Currencywith a specific number of themHook it upAsCurrencyvalue support. The gold standardThe advantage of the system is that it can be stableCurrencyvalue, curbing inflation and depreciation. However,The gold standardThe system also has its drawbacks such as:The gold standardsystemCurrency**Restricted,Economygrowth is constrained, etc.
Either wayThe gold standardThe revival of the system is still an alternative to the dollarCurrency, all meanworld economyA major change in the landscape. For China, reducing dependence on the dollar, pushingRMBInternationalIt is an important strategic goal. China has taken a series of measures, such as pushingRMBwith othersCurrencyof direct transactions, increasesInternational**BillingRMBThe specific gravity of the same acceleratesRMBofInternationalprocess. At the same time, we will strengthen cooperation with other countries and promote multilateralismCurrencyThe establishment of the system is also an important direction.
In general, the disintegration of the hegemony of the dollar is a long-term process that may accompany itEconomyThe crisis is intensifying and the political situation is constantly adjusting. For other countries, reduce dependence on the dollar and look for alternativesCurrencyis an inevitable trend. At the same time, the world should explore the establishment of fairness and stabilityInternationalCurrencysystem, let the worldEconomyDetached from the monolithicCurrencyThe shackles of hegemony to achieve pluralism and balanced development.