Thursday, December 12, 2024

Tag: De-Dollarization Accelerates: The Beginning of the End for US Dollar Hegemony in Southeast Asia?

De-Dollarization Accelerates: The Beginning of the End for US Dollar Hegemony in Southeast Asia?

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    by Timothy Alexander Guzman, Lew Rockwell:

    The US is facing major moves by the global community to de-dollarize their economies.  The reserve status of the US dollar will eventually come to an end, maybe not anytime soon, but sometime in the future as it is facing numerous challenges not only from major powers such as Russia and China who are actively trying to rid themselves of the toxic currency, but also countries with smaller economies who are based in the Southeast Asian region which includes Singapore, Malaysia, Indonesia, Cambodia, Thailand, and Laos.  The globalist think tank, the Carnegie Endowment for International Peace (CEIP) published an article on August 22nd, 2022, on the US dollar’s waning influence in Southeast Asia titled ‘Southeast Asia’s Growing Interest in Non-dollar Financial Channels—and the Renminbi’s Potential Role’ stated what was taking place between China and several Southeast Asian countries: