Important to note that 'alternatives' will not mean 'replacement'.<p>USD will the remain dominant and preferred currency in terms of global transaction value but <i>will</i> lose relative market share. This is the inevitable consequence of the weaponisation of the dollar - countries who are concerned about national sovereignty / security will be setting up back-up channels with partner countries in case they are the next to be targeted. Global trade will get more complicated, more regionalised, therefore more expensive, leading to more inflation. New normal, as we say