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The speaker expresses concern over actions by Russia and China aimed at establishing alternative reserves and conducting transactions in non-US dollars. They emphasize that the US dollar remains the world's principal reserve currency due to the US's democratic institutions, liquid markets, and the rule of law, which contribute to its stability and value over time. Despite efforts from other countries to promote their currencies, the US dollar is expected to continue being widely used in international commerce due to these advantages that other currencies lack.