ASEAN's Bold Move Could Topple The US Dollar: Here's How
ASEAN nations, comprising ten Southeast Asian countries, are gearing up to launch a new currency. This currency, currently under construction, intends to rival the US dollar and carve out its global positioning. Discussion about the ASEAN US dollar competition is intensifying as the launch date approaches. With rising US debt metrics and the weaponization of the US dollar, calls to derail the US dollar have grown fiercely loud. Will ASEAN’s bold move to injure the USD’s prestige ever fructify? Let’s find out. Also Read: Shiba Inu (SHIB) & Dogecoin (DOGE) Weekend Price Prediction Why is ASEAN Moving Away From The US Dollar? ASEAN nations are collectively working towards launching their currency systems with a multipolar currency narrative in mind. The purpose of spearheading the local currency agenda is to reduce its growing dependence on the US dollar. Research conducted by ICS shows that a significant portion, exceeding 80%, of the outstanding international debt securities within...