For decades, the United States dollar has been more than just a currency — it has been the bedrock of global trade, finance, and power. Washington’s ability to weaponize the dollar — from freezing assets to enforcing sanctions and controlling international payment networks — has long cemented its geopolitical leverage.

But that monopoly is now facing an unprecedented challenge. US President Donald Trump has repeatedly slammed the BRICS, accusing the organisation of attempting de-dollarisation. India's trade with Russia in Indian rupees has also hurt the dollar. And China is now coming up with something big.

China’s Landmark Digital Leap

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In October 2025, the People’s Bank of China (PBoC) made a historic announcement: its central bank digital currency —

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