The dollar is weaker but it still reigns supreme

No viable short-term alternative to the greenback

The demise of the dollar as the world's dominant reserve currency is a recurring theme whenever the greenback seems to embark on a depreciating trend.

The main argument is that in the long run the global hegemon also tends to be the issuer of the dominant reserve currency. This much-envied position has changed hands frequently over the past 3,000 years or so. Hence, it is a reasonable assumption that the US will lose it at some point, also because China's economic and geopolitical power is growing fast. Nevertheless, the experience of the UK a century ago suggests a country can remain the issuer of the dominant reserve currency long after its relative economic and geopolitical decline has become apparent. This suggests the dethro...