Question 3GS3GS3
What factors have led to the recent acceleration in the trend towards de-dollarization of the global economy? Do you think the dollar will lose its dominance anytime soon?
Main Body
3Failure of Multilateral Organizations 3.1 Countries are losing trust in multilateral banks & organizations such as IMF & World Bank. 3.2 They used to emphasize on importance of dollars. (4) Global Polycrisis 4.1 Top COVID-19 has highlighted the fragility of dollar based transactions. 4.2 Countries are moving towards self reliance. Top Afghanistan. Bharat. Dollars future-> It is here to stay as USA still holds dominance. However, with new regional groupings and engagements dollars importance is seen decreasing. India needs to ensure its relations with USA event hard and still have some time maintain financial autonomy.
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Topper
Suvan Sharma
AIR 1482024
Subject & Paper
GS3GS3
Topic
Economic Development
Currency and International Trade
De-dollarization and multilateralism
Writing Stats
96
Total words
1
Paragraphs
analytical
Tone