The odd convergence of a focus on sanctions risk as opposed to the fraying economic foundation of dollar hegemony serves the interests of both sides of the geopolitical divide
There is a strange paradox at the heart of the whole de-dollarization trend. Both the BRICS upstarts seeking alternatives to the dollar and the aging hegemon trying to forestall this process have, at least officially, coalesced around a similar but not entirely accurate narrative: that the gradual pivot away from the dollar is primarily driven by Washington’s weaponization of its currency.
The sanctions on Russia in 2022 certainly did mark the definitive moment when…
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