2023-06-25 04:29:00
CCTV News: According to Russian media reports on the 24th, Alexei Moran, the executive director of Russia to the International Monetary Fund, said in an interview that the world is already looking for an alternative to the US dollar, and this situation is being created by the United States itself.
The Russian Satellite News Agency quoted Mo Ren as saying on the 24th that the “de-dollarization” process “has inevitably begun”, and currencies other than the US dollar are being used more and more. “The Americans themselves caused this situation.”
Mo Ren believes that the U.S. dollar’s ability to serve as a global reserve currency and international payment currency is related to the U.S. economic and military strength. One of the main reasons is also the “lack of alternatives.”
According to data from the International Monetary Fund, as of the fourth quarter of 2022, the US dollar’s share of central banks’ foreign exchange reserves has dropped to 58.36%, the lowest level since data records began in 1995. The proportion of the US dollar in the global payment system has also gradually decreased in recent years, reaching 40% in January this year.
The United States has abused the hegemony of the dollar, exacerbating the risks of the world economy. Since March 2022, the Federal Reserve has raised interest rates 10 times in a row, and the U.S. dollar has appreciated sharply, causing many countries to depreciate their currencies, capital outflows, rising debt repayment costs, and intensified imported inflation. Some countries have even fallen into currency or debt crises.
In addition, the United States has weaponized the US dollar and its payment system, casting a shadow over the stability and reliability of the international financial system. The financial sanctions imposed by the United States have largely undermined the integrity of the market and created a crisis of confidence in the US dollar around the world.
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