The Global South is losing faith in the dollar. Why? The US slaps tariffs on friends and foes. The White House tries to bully its own central bank. Debt keeps rising. Sanctions turn the greenback into a weapon. Rising competition with China and broken security pacts with the Middle East fuel mistrust.

Beijing’s more flexible exchange rate slashes the need for hoarding dollars. Gulf rulers pour billions into megaprojects at home and take more risks with investments abroad — money they’re no longer parking in US Treasuries.

Of course, the dollar retains formidable strengths. The world’s biggest economy, deepest financial markets and strongest military are all powerful reasons for resilience. Investment pledges that US President Donald Trump has extracted from major countries and corporatio

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