Nobody says dollar will be gone completely. (Tho that might happen if the US continues to rack up unsustainable debts and others will not want to part of that.)
But the dollar is no longer going to be as strong as it used to be as the world is becoming more multilateral as it's inevitable that global south will get increasingly stronger and want more multilateralism.
It's a change that's already occuring and too late to stop that horse.
Also as long as the US continues to sanction to get their ways and self interests. You can't expect others to not be motivated to move away from the dollar. When there's a will, there's a way and some signs of de-dollarization are evident in the commodities space, where energy transactions are increasingly priced in non-USD currencies. Given China is the leader in renewables and many countries want to move away from fossil fuels (that are dominated in dollars) - it makes sense for them to buy from China to build up their renewables now and the future, and that will surely reshape the energy markets from dollar dominated to (Chinese instigated/dollar free) trades.
Reports of the death of the dollar are greatly exaggerated, as Mark Twain didn't say.
Nobody says dollar will be gone completely. (Tho that might happen if the US continues to rack up unsustainable debts and others will not want to part of that.)
But the dollar is no longer going to be as strong as it used to be as the world is becoming more multilateral as it's inevitable that global south will get increasingly stronger and want more multilateralism.
It's a change that's already occuring and too late to stop that horse.
Also as long as the US continues to sanction to get their ways and self interests. You can't expect others to not be motivated to move away from the dollar. When there's a will, there's a way and some signs of de-dollarization are evident in the commodities space, where energy transactions are increasingly priced in non-USD currencies. Given China is the leader in renewables and many countries want to move away from fossil fuels (that are dominated in dollars) - it makes sense for them to buy from China to build up their renewables now and the future, and that will surely reshape the energy markets from dollar dominated to (Chinese instigated/dollar free) trades.