The Future of the US Dollar: Reigning Supreme or Facing De-Dollarization?

Central banks around the world are diversifying their foreign exchange reserves by relying less heavily on the US dollar and buying gold at a rapid rate, according to former Morgan Stanley executive Ruchir Sharma. Nations are increasingly looking for ways to transact with each other without using the dollar as a medium for transactions. Sharma warns that the US may have overplayed its hand when it launched sanctions against Russia during its conflict with Ukraine, inadvertently sending a message to other countries that they could also face consequences for being on the wrong side of a conflict.