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The Dollar Rules the Financial Universe. China Can’t Change That.

March 31, 2023
Source: barrons.com barrons.com
News Snapshot:
Text size About the author: Marc Chandler is chief market strategist for Bannockburn Global Forex, a division of First Financial Bank. The financial shocks that keep hitting the dollar haven’t shaken its role in the world economy. The reasons matter. The dollar may not be eternal. But it won’t be China that knocks it down. The confiscation of Russia’s central bank reserves and potential plans to use them to help Ukraine were thought to cut the dollar’s attractiveness. The U.S.’s increasing reliance on sanctions and weaponizing access to the dollar have escalated the talk of alternatives. The banking failures in...
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