The U.S. Dollar has been the dominant international trade currency for the past few decades. This is owing to the strength of U.S. institutions, robust capital markets with highliquidity and positive regulatory records.
With hindsight, it seems that the position of the USD as the global currency is unshakeable. However, a section of the Belt and Road Initiative (BRI) does present a considerable challenge to the monetary hegemony of the USD.
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