Despite the threat of the Chinese yuan, the euro, and recently, bitcoin, the greenback remains the world's reference currency. According to columnist Marc Touati, president of the ACDEFI cabinet, the trend is unlikely to change anytime soon.

Often competitive, never dethroned, the reign of the dollar should continue, at least for a while. Since the 1970s, the greenback has always been rising from the ashes and leaving no chance for its so-called potential competitors.
According to Marc Touati, the only potential competitor to the greenback is the yuan. But the Chinese are not ready yet, both economically and financially. Moreover, they have no interest at the moment, because an overpriced yuan could hamper their growth, like the overvalued yen for Japan twenty-five years ago. Furthermore, with $3,170 billion in foreign exchange reserves and a plethora of US Treasury bills, an excessive fall in the dollar would be a disaster for the valuation of Chinese dollar-denominated assets.
“Today, no one has an interest in ending the central but also stabilizing role of the dollar within the SMI. Because when that happens, the planet will experience a much more serious and lasting crisis than the ones we experienced in 2008-2009 and 2020,” concludes Marc Touati.