It is because the West sanctions and freezing the money of Russia triggered fears of the same in the Global South, so dedollarisation is happening. Countries are looking for alternatives to not fall in the weaponisation of the dollar, there was a recent article by a former CIA advisor talking about this I will try to link it.
The global south has been dealing with the downside of dollar hegemony for decades. It’s not like people suddenly got afraid due to recent sanctions. This ball has been rolling for decades.
It is because the West sanctions and freezing the money of Russia triggered fears of the same in the Global South, so dedollarisation is happening. Countries are looking for alternatives to not fall in the weaponisation of the dollar, there was a recent article by a former CIA advisor talking about this I will try to link it.
The global south has been dealing with the downside of dollar hegemony for decades. It’s not like people suddenly got afraid due to recent sanctions. This ball has been rolling for decades.