US dollar faces competition as 24 nations join forces
Loopnt systems that would allow them to bypass the US-dominated global financial system. They are also promoting the use of alternative reserve currencies, such as the euro, yuan, and ruble.
The challenge to the US dollar's dominance has been fueled by concerns over US economic policies, including trade tariffs, sanctions, and political instability. The coalition sees the US dollar's dominance as a tool of American power, and seeks to diminish its influence in the global economy.
However, challenging the US dollar's dominance is a difficult task, as the US economy remains the largest in the world and the US dollar is still the most widely used currency in international transactions. Any significant shift away from the US dollar would require major changes in the global financial system and could take many years to achieve
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