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The speaker expresses concern over actions by Russia and China aimed at establishing alternative reserves and conducting transactions in currencies other than the US dollar, which is currently the world's primary reserve currency. The strength of the dollar is attributed to the United States' democratic institutions, liquid markets, and the rule of law, which contribute to its stability over time. Despite other countries' attempts to develop different currencies, the dollar remains the predominant choice in international commerce due to these competitive advantages that other nations lack.