In recent years, the accelerated ‘de-dollarization’ of global assets has emerged as a significant trend in international finance. De-dollarization refers to the gradual reduction by central banks, sovereign wealth funds, and investors in their reliance on U.S. dollar-denominated assets—such as U.S. Treasury bonds—in favor of domestic currency assets, gold, or other non-dollar currencies like the euro, renminbi, or ruble. This shift is driven by multiple factors: escalating geopolitical tensions have prompted some countries to reduce dollar exposure to avoid U.S. financial sanctions; dissatisfaction with the spillover effects of U.S. monetary policy—especially during the Federal Reserve’s aggressive interest rate hikes—has intensified capital outflow pressures on emerging markets; and the evolving multipolar world order is encouraging nations to pursue a more balanced and diversified reserve currency system. BRICS countries—including China, Russia, India, and Brazil—are actively promoting local-currency settlements and alternative cross-border payment infrastructures to diminish the dollar’s dominance in global trade and finance. Although the U.S. dollar remains the world’s primary reserve and transaction currency, its share has declined from over 70% at the start of this century to around 60%. De-dollarization is not an overnight process but a gradual, long-term transformation that is profoundly reshaping the global financial architecture.
近年来，全球资产加速‘去美元化’成为国际金融领域的重要趋势。所谓‘去美元化’，是指各国央行、主权基金及投资者逐步减少对美元资产（如美国国债）的依赖，转而增持本币资产、黄金或其他非美元货币（如欧元、人民币、卢布等）。这一趋势的背后有多重动因：一是地缘政治紧张局势加剧，部分国家为规避美国金融制裁风险，主动降低美元敞口；二是美元霸权带来的政策外溢效应引发不满，尤其在美联储激进加息周期中，新兴市场资本外流压力加大；三是多极化世界格局推动各国寻求更平衡、多元的储备货币体系。中国、俄罗斯、印度、巴西等金砖国家正积极推动本币结算和跨境支付系统建设，以削弱美元在国际贸易与金融中的主导地位。尽管美元目前仍是全球最主要的储备和结算货币，但其份额已从本世纪初的70%以上降至约60%。去美元化并非一蹴而就，而是一个长期、渐进的过程，但它正深刻重塑全球金融秩序。
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