Reported 4 months ago
Asian individuals and companies are increasingly looking to derisk from America due to geopolitical uncertainties and concerns about potential repercussions from China-U.S. tensions. Wealthy individuals are diversifying their assets away from the U.S., companies are seeking funding from regions like the Middle East, and discussions are ongoing about reducing dependency on the dollar. This shift reflects a growing urgency to find an "America plus 1" strategy and highlights the risks of further economic fragmentation, though complete decoupling from the dollar is seen as a gradual and long-term process. Discussions in Asia also indicate efforts to reduce reliance on the U.S. dollar, with initiatives like developing cross-border settlement systems in local currencies and seeking alternative funding sources outside the U.S.
Source: YAHOO