Should the world ditch the “mighty” US dollar?
Wednesday, September 06, 2023 | 300 Views |
Tried and trusted?: The American dollars has dominated global trade and reserves for decades PIC: FINEARTAMERICA.COM
They say when America sneezes, the whole world catches a cold. Increasingly these days, there are efforts by many countries to ensure that the US’ cold remains within its borders.
The stranglehold of the dollar on international trade is facing a stiff challenge, as the world stands at a crossroads, one leading to the continued use of the dollar, one to a “trade with what you like” world.
That sounds like good news. But the report also warns that this may simply be because our digital economy is still young, not because we are safe. As more people shop, bank and pay online, criminals will follow.We Batswana do not need a report to tell us that danger is real. Many of us have heard of or fallen victim to KYC scams. A caller impersonates your bank or mobile money provider. They say they need to “verify” your account. They ask...