Commentary: A Weaker Dollar Order Creates an Opening for the Yuan

Since the end of World War II, the international monetary system has been synonymous with the U.S. dollar. Time and again, crises that seemed poised to weaken American financial dominance have only entrenched it further. This resilience has bred a fatalistic consensus among global economists: the dollar may experience cyclical volatility, but it can never truly be displaced. The sun, it seemed, would never set on the greenback.