De-dollarisation and implications for the international financial system

Many analysts have raised concerns about economic uncertainties in the US, including on fiscal policy, geopolitical tensions with China and the increased use of financial sanctions. In particular, the blocking of Russian central bank and oligarch assets may prompt reserve managers to reassess the weight of dollar holdings in their portfolios.

Daniel McDowell, professor at Syracuse University and author of ‘Bucking the Buck: US Financial Sanctions and the International Backlash against the Dollar’, joins Mark Sobel, US chair of OMFIF, to explore these issues, including credible currency alternatives for central banks and the emergence of gold as a prominent reserve asset.