Moody's Says US Debt Crisis And Abuse Of Sanctions Will Threaten US Dollar’s Dominance

According to a recent report by Bloomberg News, analysts from Moody’s Investors Service, an international rating agency, released a report predicting that although the global monetary system will still be dominated by the US dollar in the next few decades, it will become more multipolar. The report pointed out that the United States' shift to protectionism and the risk of debt default will threaten the global dominance of the US dollar. Even if the U.S. debt ceiling problem is resolved, the domestic political environment has become increasingly polarized over the past decade, undermining the predictability and effectiveness of U.S. decision-making. In addition, the US's abuse of sanctions has further inhibited the free circulation of US dollars in global trade and finance, which will further promote the diversification of the global monetary system.