Alternative Payment Systems Pose ‘Long-Term Threat’ to US Dollar Supremacy, Experts Warn

Alternative Payment Systems Pose ‘Long-Term Threat’ to US Dollar Supremacy, Experts Warn
A $1 U.S. banknote is seen in this illustration taken on May 26, 2020. Dado Ruvic/Illustration/Reuters
Andrew Moran
Updated:
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A potential long-term threat to the U.S. dollar as the chief global reserve currency is the expansion of alternative cross-border payment systems, including the ones developed by China and Russia, according to a panel of experts.

Countries worldwide, especially adversaries to the U.S. government, have been developing a wide range of cross-border payment systems. While many of these efforts have yet to mirror the size of Western structures, they could pose a serious challenge in the long run.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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