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The discussion highlights concerns over actions taken by Russia and China to establish alternative reserves and conduct transactions in currencies other than the US dollar. The US dollar is emphasized as the dominant global reserve currency due to the strength of US democratic institutions, liquid markets, and the rule of law, which contribute to the dollar's stability and value over time. While other nations may seek to promote their currencies, the dollar remains the primary choice for international commerce due to these advantages that are not mirrored in competing currencies.
