Trump has recently commented on global nations steering away from the US dollar standard. There has been an ongoing international debate about the status of the US dollar, which has had a significant impact on its prevalence. As a result, the US dollar’s purchasing power has decreased by 98% since 1971.
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The financial economy of the United States has undergone a period of change due to a decline in the use of the US dollar for transaction settlements. In one of his recent talks on Fox News, former President Trump stated that China pushing the world off the US dollar standard is equivalent to the US losing a world war.
Trump says the US will never lose the dollar standard
The episode that aired on Wednesday shared some interesting views from the former president. Trump stated, “Iran gets together with Saudi Arabia through China. And China is taking over … And, I heard a couple of people say, ‘Well, we’ll never lose a dollar standard.’ Are they kidding?”
He stated that China wants to change the currency standard, and if it happens, it is like losing a world war. Trump also mentioned that it would make the US a second-tier country. The comment comes as a follow-up to the recent turn of events from global nations where they are weaning themselves off of US dollar dependency.