According to geopolitical researcher Brian Berletic, US Treasury Secretary Janet Yellen recently declared that the dollar has no major rivals in the globe, but that assertion could be "wishful thinking" on Washington's behalf. On the contrary, US sanctions on Russia could speed up dedollarisation and help the rise of Yuan.
"While the US dollar is still a formidable reserve currency worldwide with tremendous coercive power, a reserve currency's success in the first place is based on stability, relative fairness, and a reluctance to use a reserve currency's power to coerce or manipulate nations so overtly," Berletic says.
He notes out that, notwithstanding its authority, the White House's current activities have spurred nations all around the globe to seek alternate solutions. Options do exist, most notably in the shape of the euro and the yuan, according to Fabio Massimo Parenti, associate professor of international political economy and global studies at the Italian Internat...