OPINION

Cutting Asia's reliance on dollars

Oped, Yasuto Watanabe & Hiro Ito, Published on 02/10/2025

» The US dollar remains the world's leading reserve currency, but recent developments -- particularly President Donald Trump's unilateral economic diplomacy, including weaponisation of the dollar -- have fuelled doubts about whether it will maintain that status. While some of America's geopolitical rivals may hope to displace the dollar, the real challenge facing Asian economies is to manage the vulnerabilities created by their heavy dependence on it.