The dollar may lose its leading position in the world

Rising inflation, anti-Russian sanctions and financial market trends could deprive the U.S. dollar of its dominant position in the international arena. This opinion belonging to the professor of the Technical University of Dortmund and economist Henrik Mueller was published by the magazine Spiegel. According to the expert, the value of the dollar in the eyes of the world community is at risk of falling due to a significant increase in prices in the U.S., which reached 8%. Sanctions against Russia, particularly the actions of several central banks that have frozen Russia's foreign currency reserves, can undermine other countries' confidence in the U.S. due to the impression that assets placed there can be confiscated at any time. The conflict in Ukraine also has the potential to shake the U.S. currency. During it, sovereign countries are creating and strengthening new blocs using alternative financial institutions to those promoted by the United States as global systems. It could also change the balance of power in the currency market, Muller said.