The Role of the Real Economy in Resisting Dollar Hegemony

Abstract

At present, the losses caused by COVID-19 have affected the economic construction of many countries, but the underlying essence is that the dollar hegemony uses weaponized currency to force other countries to participate in the process of financialization. The dollar's extracorporeal circulation has been affected by the external force of the new coronavirus, making the dollar's control weaker, and many single-industry countries have also derived the idea of getting rid of the dollar's control, which have been solved in countries with strong real economies. By exploring the role of the real economy in combating US dollar hegemony, this paper points out that a country with a strong real economy can make its internal supply chain more complete, create jobs and control inflation at the same time, reduce the possible damage caused by financial risks in the process of dollar hegemony, and play a positive role in the recovery of the economy after damage.