dollar hegemony: the great wave of history and the future

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in 1971, the hegemony of the us dollar officially began to take on a unique color on the historical stage. this key point marked the beginning of the international status of the us dollar. the economic environment at that time changed rapidly, and the us government took a variety of actions to save the credit of the us dollar. from nixon's visit to china to the saudi oil deal, as well as adjustments to financial markets and policies, these actions changed the fate of the us dollar.

however, the establishment of the dollar hegemony is not achieved overnight. it requires continuous efforts and dedication to finally maintain its position firmly on the historical stage. the us government consolidates the position of the dollar through cooperation and competition with countries such as china, japan and europe.

from the collapse of the soviet union to the recovery of the global economy, the us dollar has experienced various challenges, but also gained new opportunities. these opportunities include the huge influence brought by china's accession to the wto and the rise of the internet technology and artificial intelligence industry chain in the united states.

in the 1990s, both the yen and the euro demonstrated strong competitiveness, but ultimately the united states still dominated the financial markets and the international stage.

however, with the changes in the economic environment and the rise of emerging forces, the hegemony of the us dollar is also facing challenges. as the global political landscape changes, a new economic landscape is taking shape, and the hegemony of the us dollar is also facing new tests.