The Department of Business and Management at Tishk International University recently hosted an insightful seminar titled “De-dollarization: Is the US dollar losing its dominance? A Shift in Global Financial Power?” The session was led by Dr. Waqar Ahmad from the same department.

The Drivers of a Global Financial Shift

The seminar delved into the increasingly relevant topic of de-dollarization, exploring whether the US dollar is losing its long-held dominance as the world’s primary reserve currency. For decades, the dollar has been the standard for international trade and a haven during times of economic uncertainty. However, recent geopolitical shifts and economic diversification efforts are prompting a re-evaluation of this status quo.

Dr. Waqar Ahmad provided a comprehensive understanding of the multifaceted drivers behind this trend, including:

  • The weaponization of the dollar: Sanctions have prompted countries to seek alternatives.
  • The rise of China: Its push for the internationalization of the Yuan is a key factor.
  • Advancements in digital currencies: These offer new avenues for cross-border transactions outside traditional dollar-based systems.

The Ramifications of a New Financial Order

The seminar also critically assessed the potential ramifications of a shift in global financial power. Discussions covered what a decline in dollar dominance could mean for the United States’ economic leverage and how it might reshape international trade dynamics and global financial stability. The presentation highlighted the potential emergence of a more multipolar currency system, where other currencies or new digital assets play a more significant role.

This valuable discussion provided attendees with crucial insights into the ongoing transformation of the global financial architecture and its broader geopolitical consequences. The event reinforced the department’s commitment to fostering academic dialogue on critical, real-world issues.

Keywords: De-dollarization, US Dollar, Global Finance, Geopolitical Shifts, Financial Power, Economic Diversification, International Trade, Multipolar Currency, Tishk International University