Dedollarization and the perils of linear thinking

Consensus is the hardest thing to break ... until it breaks

At the recently held Paris Summit for a new global financing pact, Brazilian President Luiz Inácio Lula da Silva reiterated to his counterpart from South Africa, Cyril Ramanophosa, the need to move beyond the current unsatisfactory state of global dollar dominance. The South African President agreed to put this issue on the agenda of the forthcoming BRI…