How Asia Can Reduce Its Dollar Dependence

SINGAPORE – The US dollar remains the world’s leading reserve currency, but recent developments – particularly President Donald Trump’s unilateral economic diplomacy, including weaponization of the dollar – have fueled doubts about whether it will maintain that status. While some of America’s geopolitical rivals may hope to displace the dollar, the real challenge facing Asian economies is to manage the vulnerabilities created by their heavy dependence on it.