Cheer not for de-dollarisation


Wong Chin Yoong

De-dollarisation refers to the reduction of the US dollar's dominance of global markets. – The Malaysian Insight file pic, April 13, 2023.

DE-DOLLARISATION didn’t just happen yesterday but has been in the making since former US Treasury secretary John Connally told his European counterparts at the 1971 G10 Rome meeting that “The dollar is our currency, but it’s your problem.”

Dollar hegemony was the thorn in the side of the Europeans, especially the French.


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