IN-DEPTH: Dangerous Global Shift From Dollar Driven by CCP and US Policy, Experts Say

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Experts warn that the CCP and US policymakers are undermining the US dollarโ€™s global reserve status, with potentially catastrophic implications for Americans

The trend away from the U.S. dollar in global trade and finance is accelerating rapidly as inflation persists, government debt levels explode, and the Chinese Communist Party (CCP) roams the planet negotiating deals in other currencies.

The economic and political implications of the dollarโ€™s possible loss of its prized status as global reserve currency are hard to overstate, according to experts.

In fact, such a developmentโ€”if and when it occursโ€”could prove catastrophic to U.S. consumers as their spending power evaporates, economists are warning amid debt-ceiling negotiations that have sent tremors around the world.

Numerous analysts who spoke with The Epoch Times warned that the CCP and other U.S. adversaries were actively advancing the global effort to undermine the dollar.

However, current and former U.S. lawmakers and policymakers also placed much of the blame on the Biden administration, U.S. government spending, and the Federal Reserveโ€™s monetary policies.

โ€œThe dollar is clearly at risk from foreign enemies who wish to challenge American power and domestic fools who believe the American credit card has no limits on spending,โ€ explained Kevin Freeman, host of the Economic War Room and an authority on economic warfare.

In comments to The Epoch Times, Freeman, who has briefed top U.S. military officials and policymakers, pointed to CCP strongman Xi Jinping and Russiaโ€™s Vladimir Putin as foreign adversaries seeking to undermine the dollar.

The Saudis and numerous powers across Africa and Latin America have joined the โ€œanti-dollar cabalโ€ in recent months, he added.

But the U.S. government deserves some of the blame for the developments, he said.

โ€œSadly, we are making it easy for them with massive debt increases, an erratic foreign policy, and Washingtonโ€™s arrogance that ignores the threat,โ€ said Freeman, who also serves as a senior fellow at the Center for Security Policy.

Multiple members of Congress who spoke with The Epoch Times echoed the concerns about the Biden administrationโ€™s role in the accelerating shift away from the dollar.

Byย Alex Newman

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