Eichengreen Says De-Dollarisation Is Accelerating as US Debt Concerns Deepen in 2026
Updated
Updated · South China Morning Post · Aug 24
Eichengreen Says De-Dollarisation Is Accelerating as US Debt Concerns Deepen in 2026
3 articles · Updated · South China Morning Post · Aug 24
Summary
Barry Eichengreen said de-dollarisation is now a genuine structural shift, not another short-lived bout of skepticism about the dollar.
US public debt and doubts about whether its growth is sustainable are driving that shift, he said, by raising fears over dollar stability and the value of foreign central banks’ Treasury holdings.
Eichengreen argued those debt worries are longstanding, but the current episode differs because new questions about the United States and the dollar are now being asked more broadly.
The interview frames the debate as a possible reshuffling of the international monetary system, with attention also turning to what it would take for China’s yuan to narrow the gap.