Will the dollar rule end?

Will the dollar rule end? The success of Russia and China is at stake.

Dollar Dominance: Harvard professor Gita Gopinath believes that the dominance of the US dollar will not diminish for the time being. The strength of the dollar depends on the size of the US economy, strong institutions and financial markets. The former Chief Economist of the IMF believes that the dollar will continue to dominate in the near future.

The US dollar dominates the world trade. However, in the last few days, questions have been raised about its supremacy. The biggest reason for this is the huge debt on America. Apart from this, Russia and China are also trying to find an alternative to the US dollar. This is the reason why the BRICS group has become a thorn in the eyes of US President Donald Trump. India is also a part of this group. But it has made it clear that it has nothing to do with Russia and China’s campaign of de-dollarization. Can the dominance of the US dollar diminish? Harvard professor and former IMF chief economist Gita Gopinath has answered this question.

Gita Gopinath believes that the dominance of the US dollar will not diminish for the time being. In a podcast, she said that there is still interest in the strength of the dollar and its impact across the world.

Gopinath said that the strength of the dollar is not only dependent on the size of the US economy. However, it also depends on the country’s strong institutions, depth of financial markets and law and order. She says that due to these reasons the dollar is still dominant. It will remain so in the coming years as well.