South African National Assembly Deputy Speaker: Dollar Hegemony

The deputy speaker of the South African National Assembly, Cenoli, recently stated that the United States’ use of the US dollar hegemony to suppress other countries is unacceptable. International trade should break the old model of single currency hegemony and find a fair way of de-dollarization. Zenoli believes that over the past year or so, the Federal Reserve has continued to raise interest rates aggressively, resulting in a large amount of capital flow from emerging economies to the United States, which has had an impact on emerging economies around the world. He pointed out that it is unacceptable for the United States to use the hegemony of the dollar to exert influence on other countries.