Text size About the author: Dan Katz is co-founder at Amberwave Partners, an asset management firm, and former senior advisor at the U.S. Treasury, 2019-21. The U.S. dollar’s status as the world’s reserve currency gives the United States a financial superpower—the ability to impose costs on adversaries through sanctions. But the use of that superpower in recent years has driven fears that other countries may move away from using the dollar to minimize their vulnerability to sanctions. Such a shift would endanger many benefits the U.S. receives from dollar hegemony, beyond just the ability to impose crippling economic sanctions. Yet…