De-Dollarization by ASEAN: Two Ways It Damages the US Economy
De-dollarization is a new phenomenon that has been compelling nations lately to explore beyond the US dollar. As the US dollar decays, battered heavily with fierce Trump policies and agendas, major nations and alliances, including ASEAN, have now started to explore alternatives that help them stabilize their economy. In one such instance, ASEAN has now decided to deploy the route of diplomacy to embrace China over the US, as uncertainties spurred by US tariffs continue to loom on top of their heads. This news is, however, a damaging development for the US economy, as ASEAN trade with the US involves $3.8 trillion worth of exchange of money and services. Also Read: De-Dollarization: Bank of America Reveals Why ASEAN Is Ditching USD Two Ways ASEAN’s De-Dollarization Move Could Injure the US Economy 1. Reduced USD Demand Source: Watcher.Guru The ASEAN bloc has long been discussing ditching the US dollar. The plan was already in motion, as the block had discussed multiple times, to target ...