Comicomment: How U.S. dollar's hegemony creates global chaos

2023-05-20 Editor : Zhao Li ECNS App Download

(ECNS)--The words of former U.S. Treasury Secretary John Connally in 1971 ring true: "The dollar is our currency, but it's your problem."

Ever since the U.S. dollar became a "global currency," it has been infused with a strong hegemonic gene and becoming a tool for hegemony.

For a long time, the United States has utilized the hegemonic status of the dollar in the international monetary system to shift domestic crises, harvest global wealth, and undermine the economic and financial stability as well as the well-being of other countries. U.S. dollar hegemony has become a significant destabilizing factor threatening the global economy.


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