But what is clear is that many countries want to get rid of the hegemony of the US dollar, the way to suppress supply is to suppress demand. Indeed, it is currently very strong, you even say it is difficult to drop the dollar, especially with BRISC, but believe me, dominance in this world is always changing, I believe that. Although it takes time, it will happen one day.
And now the UAE has officially stopped using the dollar for oil trading, slowly but surely the dollar is starting to be removed as a global trading tool. China also allows small countries in the world to trade with their national currencies, unlike the US which only accepts dollars.
The current global financial landscape, if witnessed, has also undergone major changes, for example when the UAE boldly switched from the US dollar in its oil trading business. This strategic shift is in line with the broader ambitions of the BRICS economic alliance, of which the UAE is a member. This transition, including the switch to local currencies for oil transactions, marks a significant change from the long-standing dominance of the dollar in the global oil market. This is just one example, maybe in the future there will be other aspects.
I never said that the dominance of something strong cannot be defeated, but what we are debating is that the dominance is still strong enough for now. It takes time to break the dominance of the dollar and if that is something that is to be achieved, then countries that intend to get out of dollar dominance must be economically independent.
How many countries are able to do that and the dollar hegemony is still quite strong, indeed the control and the countries you mentioned clearly have the ability because they are economically strong. But if we talk about developing countries, the pressure is not as easy as imagined because geopolitics cannot be separated from the management of a country and most countries will lose when faced with geopolitical pressure. I believe that the transition is being attempted by the countries that join BRICS, but we must remember how strong their economic strength is to continue and if they do not have good competitiveness it will be much more difficult.