Trump’s assault on the global dollar

Quick Summary:

So, might it not replace the dollar, at least in part, as Hélène Rey of the London Business School argues? Yes, it might.

Moreover, in the fourth quarter of last year, 58 per cent of global reserves were in dollars, down from 71 per cent in the first quarter of 1999, but far ahead of the euro’s 20 per cent.

But network effects would create unstable equilibria in such a world, as people rush from one currency to another.

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Article Details

Author / Journalist: Martin Wolf

Category: MarketsFinanceInvesting

Markets: United StatesChinaJapan

Topics: Economic Cent Trump China Global Dollar Financial World Might Currency Power

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-20 @ 14:23:12 (14 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 1070 words

Reading Time: 6 minutes read

Sentences: 69 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 28876621

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Official Website: ft.com

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News Last Updated: 14 hours ago

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