"dedollarization is becoming ?"

Recently, data showed that for the first time more cross-border transactions with China were completed in yuan in March than in dollars. Argentina has said it is ready to regularly pay for Chinese goods in yuan and not dollars.

China's yuan currency is slowly but surely being adopted for more international payments. This is considered to be able to lay the foundation for a trading system that runs parallel to the dominant US dollar.

While the dollar still dominates the world's trade currency, a growing number of bilateral agreements govern yuan payments with China, ranging from China's oil purchases in the Middle East to trade from Brazil to Russia.

The rapid use of the yuan was also driven by Western sanctions, particularly from the US, against Russia which excluded it from the global payment system. This prompted other countries to accelerate the development of alternative currencies for trade. The world's largest commodity exporters and importers - China, Russia and Brazil - are now cooperating using the yuan for cross-border payments. Their cooperation can attract other countries for yuan payments over time and cumulatively, these groups can lift the yuan at the expense of the dollar.

The share of the yuan in the Russian currency market has jumped to 40% to 45%, from less than 1% at the start of last year. The portion of world trade financing, according to SWIFT, has increased to 4.5% in February from 1.3% two years ago. The dollar reached 84%.

If the US dollar continues on this path, we will see inflation soaring, US living standards critically falling, and the US falling off the world stage not by choice but by necessity, 100 percent of our own making.

Many people have expressed similar warnings. A number of countries are also stepping up efforts to move away from using the US dollar in trade settlements. Syria's foreign minister said last week that the US was imposing sanctions to steal the assets of targeted countries and keep them under US hegemony.