And it’s expensive in how it’s causing the tectonic structures that underpin our global economy to shift. De-dollarization, the name given to the process countries undertake in unwinding their reliance on the dollar, promises to reorder the world, reducing American power globally. Its impact will be felt domestically in what we pay to borrow and whether we can afford to borrow at all. The global economy, like any economy, exists through the voluntary beliefs of a critical mass of its participants. Our borrowing costs will also go up as demand for the dollar diminishes – which means higher prices across the board.

Source: The Guardian April 02, 2026 14:02 UTC