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the_dunk_tank
It's the dunk tank.
This is where you come to post big-brained hot takes by chuds, libs, or even fellow leftists, and tear them to itty-bitty pieces with precision dunkstrikes.
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Could you make an argument for why the war merely accelerated de-dollarization? What evidence is there that countries were turning away from holding USD reserves or moving towards international trade not denominated in dollars? Factionalism in the US government, led mostly by a trump administration, might have lowered confidence in US generally, but how has that impacted US economic hegemony?
Quoting this pro-western piece in TabletMag:
The success of the Russian economy at resisting the sanctions regime is directly related to the emerging multipolar world. Those peer-competitors like China, but also "irritant regimes" like Cuba are all watching things develop with great interest.
As an aside, I don't think anyone here is doing math with human lives and saying that the blood spilled is "worth it". That's un-charitable, at best. It's more of a material analysis - history, international relations, expanding russian economic influence on the EU, and politics has wrought war. Many on this site, myself included, wish for the war to end in a way that doesn't result in the complete collapse or subjugation of the russian state because it would be net negative for anti-imperialism and the global south. But importantly they still want the war to end.
America's bond rating got downgraded under Obama, for one thing. We're barreling towards the, what, 4th or 5th government shutdown in like 6 or 7 years? International confidence in the US to maintain the stability of the dollar is shaken both by the intermittent shutdowns and by its increasingly mercurial foreign policy. Trump's demands about NATO funding, overtures towards North Korea, pulling out of the Iran nuclear deal, immediately replaced by Biden's huge injection into Ukraine, to be followed by...?
At the same time China has been growing in leaps and bounds and has an enormous economy and an incredibly stable government. It seems inevitable that their GDP will overtake the US's sooner rather than later.
These taken together paint a picture to me that we didn't need a war to convince the global south that America's era of monopolar hegemony was coming to a close.