The Reimagining US Grand Strategy program’s October 2023 roundtable brought experts together to discuss critical matters of economic statecraft and the path forward for U.S. economic policy. The conversation focused on deconstructing the actual threat level of de-dollarization and illuminating the lack of a cohesive and effective U.S. geoeconomic strategy.

Daniel McDowell, associate professor of political science, was one of four experts who weighed in on the matter. 

"In the last year, countries like Russia and China have cut their reliance on the dollar, spurred forward by sanctions and geopolitical risk concerns. Meanwhile, the dollar’s global use as a cross-border payment currency has increased by nearly 10%. These competing facts illustrate the nuance that is needed in our debates about the dollar’s present and future," says McDowell. "Yes, de-dollarization is real, and it is happening. No, this does not mean that the dollar’s days are numbered."

Read more in the Inkstick article, "What is the United States’ Geoeconomic Strategy?"