Nearly 80 years ago, the U.S. dollar usurped the British Pound Sterling to become the new international currency. It means the dollar is at the center of most global business. But other countries are chipping away at its power. 💵 Earlier this year, countries including China, Russia and Saudi Arabia started trading with other currencies: the Chinese Yuan and the Russian ruble. 💵 The recent debt ceiling drama made the U.S. and its currency look risky and unstable. 💵 America uses financial sanctions as a way to put pressure on countries. But too many sanctions encourage countries to seek other currencies for trade. |
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