USD/SWIFT sanctions pushed a second major fossil fuels exporter (Russia) into the arms of China and Yuan denominated oil exports. Trump is desperate to reverse that trend- one more major oil exporter moves to Yuan and petrodollar is finished.
Most of Africa is going this way as well as China finances and builds them the infrastructure and development the west never did.
Cambodia, Laos and Myanmar are already tribute states to China and all of Asia is increasingly drawn into the trade vortex that is China.
Japan, S.Korea, Taiwan all do more trade and have better trade prospects with China than USA as does Europe.
 

Solomonsatoshi

econ

The Crumbling of the Dollar (FT Weekend Essay, Barry Eichengreen)

denlillaapan

No mention of how ending the sanctions against Russia will be a step in the right direction for the dollar? It sure seems like that's where Trump is trying to get.

I think we might see Trump push a bunch of the global south to dollarize, rather than rely on those old relationships with the EU and Anglosphere.