De-dollarization is a fad that will backfire on countries trying to move away from the greenback, currency expert says

De-dollarization is probably a fad — and countries trying to stage a global shift away from the dollar may soon find that the movement will backfire.

That’s according to Jeffrey Christian, a longtime commodities analyst and the founder of CPM Group, who thinks that the de-dollarization push in countries like Russia, China, and India could wind up backfiring and hurting the economies of those nations.

Despite the ongoing movement, dollar dominance isn’t probably going away, given how pervasive the greenback is in financial markets, he told Business Insider in an interview.

Source: Business insider