Is the US Dollar Under Attack?

Can the new China–Russia alliance destabilize the post-World War II order led by the United States?

People walk past a currency exchange office screen displaying the exchange rates of U.S. Dollar and Euro to Russian Rubles in Moscow, on Feb. 28, 2022. AP Photo/Pavel Golovkin, File

News Analysis

Potential efforts to assist Russia to sell its oil and dodge Western sanctions have prompted fears about the survival of the global economic order. Some wonder if China and Russia’s continuous de-dollarization drive will expand, putting the U.S. dollar’s hegemony in the global financial system in jeopardy.