

Not sure it will change. The global south and more importantly BRICS has created a system where local currencies are used. It’s basically a currency swap. If this can be extended to all nations there won’t be a currency hegemon at all. Of course while it’s been working well for the countries that are doing it, it’s hard to say what the effects would be on a global scale. Still, we should work towards it. Note I am not talking about the BRICS currency, which is not real. Not even sure why it gets brought up at all.
*Edit. This is an article about the expansion of China’s currency swap deals.
https://watcher.guru/news/brics-push-currency-swap-with-29-countries-worth-550-billion
Note that while this is about China, all BRICS nations are making currency swap deals with each other. It’s just easier to find articles about China doing this because China is so massive.
I won’t say that won’t happen. But interestingly, China isn’t trying to make their currency a hegemonic currency. Instead, they’ve been promoting currency swaps that use both local currencies. And it’s picking up speed. All the BRICS nations are making currency swap agreements amongst each other. As I said in another post, I have no idea if this can go global. But it’s something I hope we can all work towards. Any currency hegemon is bad for the world. The strangest thing is it appears China agrees, regardless of what western propaganda says about China.