The need for de-dollarization is becoming increasingly important in the international community as the US dollar becomes more unreliable and dangerous, says Professor Mohammad Marandi. In an interview with Chinese government-owned news outlet Global Times, Marandi discussed the importance of de-dollarization and Iran’s relations with China and Saudi Arabia. The US has used the dollar as a weapon against different countries, making it an unreliable and dangerous currency. Countries need to move away from the dollar in order to protect themselves from being vulnerable to US pressure. China, Iran, and Russia have already started this process, but it is important for the international community to follow suit.
Marandi highlighted the recent restoration of bilateral ties between Saudi Arabia and Iran, brokered by China in March, as a significant step towards peace in the Middle East. Iran already sells a substantial amount of petroleum using currencies other than the US dollar, and Marandi believes it would be in Saudi Arabia’s best interests to make the same move. De-dollarization is a strategic move that can protect countries from being vulnerable to US pressure. It allows them to use their own currencies or alternative currencies for international trade, which would prevent the US from exerting influence through its control of the global reserve currency.
De-dollarization in China is already well underway, with the country moving towards internationalizing the yuan as an alternative to the US dollar. China is a major energy importer from the Gulf region, and Marandi believes it would be ideal for China to use the yuan to import energy from the region. This move would help China solidify its position as an economic superpower and loosen the US’s grip on the global financial system.
Marandi’s call for de-dollarization has gained traction in recent years as more countries have moved away from the US dollar. The US’s use of economic sanctions and its control over the global financial system has led many countries to seek alternatives to the dollar. Countries like Iran, China, and Russia have already started the process of de-dollarization, and others are likely to follow suit. The current trend towards de-dollarization is part of a wider shift away from US dominance in the global economy, which has been accelerating in recent years.
The US’s use of the dollar as a weapon has put it at odds with many countries around the world. Economic sanctions have become a common tool of US foreign policy, and the US’s control over the global financial system has given it a huge amount of power over other countries. But as more countries move away from the dollar, the US’s power to exert influence is likely to diminish. This shift towards de-dollarization represents a new era in the global economy, one in which the dominance of the US is being challenged.
In conclusion, de-dollarization is becoming increasingly important in the international community as the US dollar becomes more unreliable and dangerous. Countries like China, Iran, and Russia have already started this process, but it is important for the international community to follow suit. De-dollarization is a strategic move that can protect countries from being vulnerable to US pressure and allow them to use their own currencies or alternative currencies for international trade. The current trend towards de-dollarization is part of a wider shift away from US dominance in the global economy, which is accelerating in recent years.
