Dollar acts as reserve currency cuz most countries has trade surplus with US .. and instead of converting their dollar surplus to their own currency , they save for yeild on T bills ..
I mean dollar is not an OFFICIAL reserve currency.. wherever countries have massive trade among each other , they retain each other currency as well ..
Why should US let this advantage go ?
They won’t voluntarily. It will slowly happen over decades
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It's already happening, it's just very slow.
