‘Exorbitant privilege’: Can the US dollar maintain its global dominance? | International Trade News

Since the 1940s, the US dollar has held firm as the global reserve currency,  driving international trade and reinforcing the status of the United States as an economic superpower.

In recent years, however, some countries have expressed opposition to the US dollar’s longstanding economic dominance.

The BRICS economic bloc, named for its founding members, Brazil, Russia, India, China, and South Africa, has actively sought to reduce its reliance on the US dollar. China has even pushed for…