Peace and Dedollarization

World Affairs by Kanthan

There has been a “pandemic of peace” in the news lately, starting with the historic peace deal between Saudi Arabia and Iran. More surprisingly, it was brokered by China! Then there has been an exponential increase in trade deals that embrace dedollarization — not only Russia and China but also India, ASEAN, Brazil, and African countries. What do all these mean to the US and the global financial system?