Abstract:
By driving up the federal debt, undermining central-bank independence, and imposing sweeping tariffs on key allies, US President Donald Trump is striking at the heart of America’s financial power. If the dollar were to lose its reserve-currency status, the resulting realignment would be neither gradual nor orderly.
Citation:
Snower, D. J. (2025), 'When the Dollar Falls', Project Syndicate, https://www.project-syndicate.org/onpoint/what-happens-if-dollar-is-no-longer-world-leading-reserve-currency-by-dennis-j-snower-2025-08