Decline of U.S. dollar dominance – what it means for workers
www.workers.org
The U.S. sells more than $175 billion in military weapons every year; yet for decades, its greatest weapon has been the U.S. dollar’s global dominance. Imperialist wars and U.S. dollar hegemony go hand in hand. To prevent them from developing alternative currencies to the dollar, the U.S. militar

There is clearly a global move away from dependence on the U.S. dollar, which will benefit the BRICS countries and others. But what does the diminishing hegemony of the U.S. dollar mean for the working class?

Lessening U.S. hegemony means that countries in the Global South may have the chance to develop their economies without dependence on the U.S. dollar, the IMF and the World Bank, and the inherent debt cycle which that dependence entails. But that does not mean an end to U.S. [neo]imperialism or capitalism as we know it. It is a setback for U.S. [neo]imperialism but not a defeat.

The end of U.S. hegemony creates conditions for the global working class to break with [neo]imperialism and for the working class to rise up and carry out its historic rôle.

However, defeating U.S. [neo]imperialism and capitalism will take serious, revolutionary intervention by the global working class.