Global dominance of dollar is on decline
Page 1
Along with various military, political, and cultural tools, the Americans also use the dominance of the dollar to weaken the economy of other countries. For example, they have turned the dollar into a commodity in Iran in order to weaken its currency. Therefore, many countries including Iran have decided to remove the dominance of the dollar from their commercial and economic exchanges or minimize its influence on their economy.
But the process of de-dollarization requires adopting a number of different measures. In Iran, many policies including trading through barter systems have been considered by the country’s authorities. Meanwhile, Iran reached agreements with countries like Russia and China to remove the dollar from their exchanges and trade in their national currencies.
Tehran has also considered using the currencies of other countries like the UAE with which Iran has great economic relations. The UAE is the most important corridor for exporting goods to Iran.
Since the trade balance of Iran’s non-oil exports was positive last year, Iran can use domestic production and export to meet its needs in goods via barter trade and without using the dollar.
There are other ways such as using cryptocurrencies. Some analysts believe that specialists can create Iranian cryptocurrencies. In any case, Iran has definitely used every opportunity to minimize its reliance on dollars. Many other countries have also been mulling over reducing their reliance on the US dollar.
Therefore, the US Treasury Secretary’s warning and her concern about the weakening dominance of the dollar are based on some facts about the United States that have just been revealed.