{"id":476502,"date":"2026-02-15T12:59:09","date_gmt":"2026-02-15T12:59:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/476502\/"},"modified":"2026-02-15T12:59:09","modified_gmt":"2026-02-15T12:59:09","slug":"fading-us-dollar-trust-threatens-world-economy-ex-imf-official-zhu-min-warns","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/476502\/","title":{"rendered":"Fading US dollar trust threatens world economy, ex-IMF official Zhu Min warns"},"content":{"rendered":"<p>Dwindling global trust in the US dollar is one of the most prominent risks facing a vulnerable world economy this year, according to <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/global-economy\/article\/3295852\/chinas-stalled-economic-engines-demand-strong-manufacturing-economist-urges-davos?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">Zhu Min<\/a>, an ex-deputy director of the International Monetary Fund and former deputy governor of the People\u2019s Bank of China.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">He noted that the credibility of the US dollar was being challenged as its share of global foreign exchange reserves had fallen to 57 per cent \u2013 from 70 per cent in the past.<\/p>\n<p>On the other hand, \u201cthe proportions of <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3343554\/chinas-gold-rush-why-families-are-doubling-down-precious-metals?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">gold<\/a>, the euro and the yuan are rising, reflecting the market\u2019s confidence that the US dollar is dropping\u201d, Zhu wrote in an article for China\u2019s International Finance magazine on Wednesday.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Zhu added that the US Federal Reserve\u2019s interest rate cuts would be a critical measure for steadying the financial market this year.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cBut if the pace of interest rate cuts does not align with the inflation situation, it will create new uncertainties,\u201d he warned.<\/p>\n<p>Chinese President Xi Jinping has said that China must build a <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3341958\/china-strong-currency-mission-make-yuan-global-reserve-xi?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">\u201cstrong currency\u201d<\/a> that can be widely used in international trade, investment and foreign exchange markets and reach the status of a global reserve currency.As <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3343174\/china-lets-yuan-rise-strongest-level-years-de-dollarisation-trend-grows?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">de-dollarisation gathers pace<\/a>, investors are increasingly turning to alternatives such as gold and emerging markets, including China, in a bid to diversify away from US dollar assets amid concerns about the long-term financial sustainability of the United States.<\/p>\n","protected":false},"excerpt":{"rendered":"Dwindling global trust in the US dollar is one of the most prominent risks facing a vulnerable world&hellip;\n","protected":false},"author":2,"featured_media":476503,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,10082,95,27633,1376,46,27755,2071,3242,37141,15805,9316,14027,58745,69456,45689,60659,55043,772,7893,193346,85734,35613,20137,9671,69458,193347],"class_list":{"0":"post-476502","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-central-bank","12":"tag-china","13":"tag-cold-war","14":"tag-donald-trump","15":"tag-economy","16":"tag-emerging-markets","17":"tag-federal-reserve","18":"tag-gold","19":"tag-gold-market","20":"tag-imf","21":"tag-interest-rates","22":"tag-international-monetary-fund","23":"tag-military-spending","24":"tag-pboc","25":"tag-peoples-bank-of-china","26":"tag-reserve-currency","27":"tag-stablecoin","28":"tag-united-states","29":"tag-us-dollar","30":"tag-usdc","31":"tag-usdt","32":"tag-world-bank","33":"tag-world-economic-forum","34":"tag-xi-jinping","35":"tag-yuan","36":"tag-zhu-min"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/476502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=476502"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/476502\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/476503"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=476502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=476502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=476502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}