Regionalization and de-dollarization as a new vector of development of the world monetary and financial system

Abstract

Subject. This article examines the main trends in the development of the world monetary and financial system. Objectives. The article aims to analyze the trends in the development of the world monetary and financial system, the main trends of which are regionalization and gradual de-dollarization. Methods. For the study, we used the methods of statistical, logical, and comparative content analyses using tabular and graphical forms. Results. Based on the results of the analysis, the article identifies the most probable reasons for the insufficient efficiency of globalization and determines the factors that necessitated the transformation of the existing world monetary and financial system. Conclusions. The desire of countries that do not belong to the so-called Golden Billion to strengthen their national and regional monetary and financial systems, to partially abandon the US dollar as the main world currency, is due to the frequent financial crises and the urgent need to transform the existing financial and economic system, especially in its monetary aspect.