美元在国际贸易和全球储备中的主导地位从未受到过质疑

的确，德意志银行对不断增长的现象发出了警报：美国盟友之间的宣传。

Deutsche Bank has issued a stark warning about a growing phenomenon that could have far-reaching consequences for the global financial system: the decreasing role of the U.S. dollar in international trade and global reserves.

德意志银行（Deutsche Bank）发出了关于不断增长的现象可能对全球金融体系产生深远影响的现象的明显警告：美元在国际贸易和全球储备中的作用下降。

As geopolitical tensions escalate and financial sanctions are imposed, several nations are seeking to reduce their dependence on the greenback.

随着地缘政治紧张局势的升级和财务制裁的实施，几个国家正在寻求减少其对绿色的依赖。

If this trend accelerates, it could disrupt the global monetary balance and redefine power dynamics within the international financial system.

如果这种趋势加速，它可能会破坏国际金融体系内的全球货币平衡并重新定义权力动态。

Growing Tensions Around the Greenback

在绿色背景周围越来越紧张

Deutsche Bank has sounded the alarm on a phenomenon that is unfolding with increasing speed. Numerous countries, allies of the United States, are reducing their reliance on the dollar for their trade transactions and foreign exchange reserves.

德意志银行在一种随着速度越来越多的现象中发出了警报。美国盟友的许多国家正在减少其对贸易交易和外汇储备的依赖。

According to the bank, this dynamic is being driven by the rise of economic and geopolitical tensions. “The pressures from U.S. sanctions and the uncertainties around monetary policy are pushing many countries to seek alternatives to the dollar,” explains a report from the financial institution.

根据银行的说法，这种动态是由经济和地缘政治紧张局势的兴起驱动的。金融机构的一份报告解释说：“美国制裁的压力和货币政策的不确定性正在促使许多国家寻求替代美元的替代方案。”

Major players in international trade, such as China, Russia, and some Gulf states, have already begun shifting towards other currencies, notably the yuan and the euro.

国际贸易的主要参与者，例如中国，俄罗斯和一些海湾州，已经开始转向其他货币，尤其是人民币和欧元。

Recent tensions with Washington and the fear of the dollar being used as a tool of diplomatic pressure are accelerating this transition. Some countries are aiming to secure their exchanges and sign agreements for payments in local currencies to thereby reduce their dependence on fluctuations of the greenback.

最近与华盛顿的紧张局势以及对美元被用作外交压力工具的恐惧正在加速这一过渡。一些国家的目的是确保其交流和签署当地货币支付的协议，从而减少其对绿背波动的依赖。

The Gradual Erosion of the Dollar’s Role

美元角色的逐渐侵蚀

Historically, the dollar has held a dominant position in the global financial system thanks to several advantages:

从历史上看，由于几个优势，美元在全球金融体系中占据主导地位：

Yet, several indicators show that this hegemony is weakening. The IMF has reported a gradual decline in the dollar’s share of global reserves, reaching its lowest level in decades.

然而，一些指标表明这种霸权正在削弱。国际货币基金组织（IMF）报告说，美元储备金的份额逐渐下降，几十年来达到其最低水平。

At the same time, international transactions in dollars are decreasing, in favor of bilateral agreements in alternative currencies.

同时，国际交易的美元交易正在减少，有利于替代货币的双边协议。

This shift does not happen overnight, but the signs of a monetary rebalancing are multiplying. For financial markets, such an evolution could lead to greater exchange rate volatility and a reconsideration of the historical advantages that the dollar enjoyed in international financing.

这种转变并非一夜之间发生，但是货币重新平衡的迹象正在增加。对于金融市场，这种发展可能会导致汇率波动更大，并重新考虑了美元在国际融资中所享有的历史优势。

Alternatives Emerge Against the Dollar : Towards a New Global Monetary Balance ?

替代品违反美元：朝着新的全球货币平衡迈进吗？

With the rise of uncertainties related to the greenback, several initiatives aim to build a more multipolar financial system. China is actively promoting the internationalization of the yuan, notably through trade agreements with emerging countries.

随着与绿背有关的不确定性的兴起，几项旨在建立更多极性金融体系的计划。中国正在积极促进人民币的国际化，尤其是通过与新兴国家的贸易协定。

Russia, for its part, has turned to transactions in rubles and yuan for its raw material exports.

就其原材料出口而言，俄罗斯已转向卢布和人民币的交易。

Other countries, particularly in Asia and Latin America, are strengthening their exchanges in local currencies to avoid passing through the dollar for their transactions.

其他国家，特别是在亚洲和拉丁美洲，正在加强其当地货币的交流，以避免通过美元进行交易。

This evolution is also observed in the commodities sector, where some oil contracts are now denominated in yuan. The objective is clear: to limit exposure to fluctuations of the greenback and reduce the grip of the American financial system on the global economy.

在商品部门也观察到了这种进化，那里的一些石油合同现在在元中被列为。目的是明确的：限制暴露于绿背的波动，并减少美国金融体系对全球经济的控制。

In this context of monetary recomposition, cryptocurrencies could find their place. Bitcoin, often considered an alternative store of value, benefits from the growing mistrust towards traditional fiat currencies. Some nations are also exploring the potential of central bank digital currencies (CBDCs) as a means to bypass the dollar.

在这种货币重新分配的情况下，加密货币可以找到自己的位置。比特币通常被认为是一种价值的替代存储，从对传统菲亚特货币的不信任感中受益。一些国家还在探索中央银行数字货币（CBDC）的潜力，以此作为绕过美元的一种手段。

However, the rise of cryptocurrencies in this new environment will depend on several factors: institutional adoption, regulation, and investor confidence.

但是，在这个新环境中加密货币的兴起将取决于几个因素：机构采用，监管和投资者信心。

If dedollarization continues, it could reinforce the role of cryptocurrencies as a decentralized global exchange solution, competing with traditional currencies.

如果继续进行脱落，它可以加强加密货币作为分散的全球交换解决方案的作用，并与传统货币竞争。

The warning from Deutsche Bank highlights a phenomenon that could reshape the contours of the international monetary system. If dedollarization accelerates, the world could shift towards a more fragmented model, where multiple currencies share global economic dominance. In this context, financial market participants and investors must anticipate the repercussions of a world where the dollar is no longer the uncontested king.

德意志银行的警告突出了一种现象，可以重塑国际货币体系的轮廓。如果涂金加速，世界可能会转向更加分散的模型，多种货币具有全球经济优势。在这种情况下，金融市场的参与者和投资者必须预期美元不再是无争议的国王的世界的影响。