Part 7/11:
The question on many minds is whether the dollar’s dominance can be challenged. While signs of shift are visible, a complete replacement is unlikely to happen overnight due to the colossal amount of US dollar-denominated assets worldwide — over $31 trillion held by global investors.
Gradual Transition Toward a Multicurrency World:
Countries like China, Russia, India, and Brazil — members of the BRICS coalition — are actively exploring alternatives and promoting the use of local currencies. This trend toward diversification could eventually weaken the dollar's monopoly, leading to a multi-currency global system involving the euro, yen, and yuan.
Not Yet Replacing the Dollar: