It’s more multipolar, but love for dollar isn’t over

News Snapshot:

Predicting the end of the US dollar (USD) has become a popular pastime. The reasons for its imminent demise range from past trends (no global currency has lasted more than a century) to the present situation (the US is no longer the superpower it once was). The chief contender for the ‘most powerful currency’ tag seems to be the Chinese renminbi (CNY) though the euro, bitcoin and gold also have some backers. Yet, so far, there has been no dramatic shift away from the dollar. What stops countries from switching to a currency of their choice? We explore the main...