The Impact of the Russian-Ukrainian Conflict on the Hegemonic Position of the Dollar
DOI:
https://doi.org/10.54097/1tmr6y42Keywords:
Russia-Ukraine conflict, dollar, status of currenciesAbstract
After the outbreak of the Russian-Ukrainian conflict, the Western countries led by Europe and the United States imposed unprecedentedly severe sanctions on Russia, and the rise in Russian energy and food prices led to imported inflation in the European region, while the European Central Bank adopted a negative monetary policy, coupled with the eurozone debt crisis. Countries around the world have gradually realized that there are some problems with the United States as the central country of the international monetary system, and have had to take measures to reduce their dependence on the US dollar in order to maintain their own economic security. In this context, this paper studies and collates the current situation of the world currency under the hegemony of the US dollar, as well as the impact of the status of the US dollar and its causes. Meanwhile, on this basis, it briefly analyses the new trends of the international monetary system in the future.
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