Boomerang effect on dollar hegemony
Boomerang effect on dollar hegemony

Argentina announced on Wednesday that it will begin paying for Chinese imports in yuan instead of dollars, joining a growing number of countries that are diversifying their foreign exchange reserves and moving away from the U.S. dollar. The U.S.'s abuse of its financial power by weaponizing the dollar has catalyzed this trend, leading many countries to seek alternatives. Is the era of dollar hegemony coming to an end, and what will the process of de-dollarization entail?

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