A global trend toward “de-dollarisation” has already begun. The last piece of “load-bearing wall” of the “US Empire State Building” has cracked, in other words.
Global policies for “de-dollarisation” include sharply reducing US debt holdings, dropping US dollar’s status as an anchor currency, increasing non-dollar bulk commodity trade, growing the reserve of non-dollar currencies and ramping up gold’s hedge against the dollar.
Looking from the perspective of the US debt, the 22 consecutive months from April 2018 to March 2020 saw global central banks reduce their US debt holdings.
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