Endless Attempts and the Scope of American Resistance

It’s more than evident that the world is in no mood to let the United States dominate with no resistance to the dollar’s monopoly on international trade.

When competitors are hitting again and again on its pain points, the U.S. financial institutions are working towards restricting the erosion of the US dollar's dominance. Some of the critical initiatives are:

The USA is trying to build a credible image of its economy by maintaining low inflation, stable economic growth, and sound fiscal and monetary policies. This is to inflate the trust in the US dollar which strengthens its position in the long run

The US is constantly promoting the use of USD in cross-border transactions in all international trade while also encouraging countries to have higher foreign reserves in USD

The US is also expanding its operational reach in strategic locations all over the world. This will not only strengthen its geopolitical stature but also enable it to monitor (and probably control) critical trade locations

The United States empowers IMF and other US-leaning international financial organizations in which it holds key control. The USA has played a key role in shaping IMF policies and still dominates the forum with its soft power

The United States is also working towards developing the digital dollars to cope with the other CBDC projects of countries such as China and India

The Way Forward

The era of the US dollar's uncontested reign as the world's reserve currency may be coming to an end as de-dollarization, the rise of cryptocurrencies, and the development of regional power centers