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dollarization refers to the process of reducing or eliminating the use of the US dollar in a countrys economy many countries around the world use the US dollar as their primary currency especially in international trade and finance however this can make these countries vulnerable to economic instability as changes in the U.S economy can have Ripple effects across the globe China has been the Forerunner in the move towards de-dollarization as it is trying to push for use of the Chinese Wen instead of the US dollar to go about petroleum trades with the Middle East even India and Malaysia have committed to using the Indian rupee to conduct foreign trade abandoning the US dollar it can take time and may involve some short-term economic challenges but in the long run it can help countries achieve greater economic stability and sustainability all as a result of
