A ‘third way’ in currency dominance

By Maria Demertzis

Surging geopolitical risk and growing global conflicts, along with a concomitant search for economic security, are combining to challenge what has long been a pillar of the global financial system: the US dollar’s hegemony.  

This confluence is prompting countries to prize financial diversity over even efficiency, which is one of the reasons no single currency is likely to emerge as the dollar’s successor. Instead, the global financial