Afrasianet -  Ziyad Nasser Al-Din - The expansion of the dollar's occupation of countries' economies and the use of the "Swift" system for political purposes coincided with China's economic rise, the flourishing of its global trade, and its renewed ambition to reactivate the "Silk Road" through the "Belt and Road" initiative.

With the end of World War II in 1945, the dominance of the United States over the world emerged in the political, military and economic aspects.

During the 80 years that followed, the dollar was the main driver of the global commercial, economic and social reality. This was done through basic stages that established the status of the green currency.

The Beginning of Domination: The Bretton Woods Conference In 1944, the International Monetary Conference was held from July 1-22 in Bretton Woods, New Hampshire.

It was attended by representatives of 44 countries who drew up plans to stabilize the global financial system and encourage the growth of trade in light of the results of World War II, which were heading towards decisiveness in favor of the United States. According to the agreement reached by the Bretton Woods conference, it was decided to establish the International Monetary Fund and the World Bank and consider them two economic institutions with an international affiliate through which trade relations are regulated and the dollar is imposed as a main reference for determining the exchange rate of other currencies. Accordingly, the dollar transformed from a local currency into a global currency, as this stage constituted the turning point in the new global economy. In 1945, the United States had 75% of the world's gold reserves.

On that day, it fixed the price of the yellow metal against the dollar ($35 per ounce), making it the base currency for gold reserves in the world.

2- The Nixon shock and the petrodollar agreement In 1971, US President Richard Nixon decided to break the link between the dollar and gold, and to rely on the political power of the dollar, and to print the currency without coverage, but rather by relying on the largest economic agreement in history, which was known as the petrodollar agreement, as Washington realized that oil is a weapon Its economic importance and influence exceeds the largest military weapons in the world.

Thus, the petrodollar theory tightened the dominance of the dollar over the global economy, and the sale of oil in the world through the Organization of Petroleum Exporting Countries (OPEC) became carried out using the US currency. This coincided with the Great Industrial Revolution, which relied mainly on oil and its derivatives.

3- Refining the dollar The period from 1980 to 1990 was known as the smart phase.

The financial revenues of the oil countries were invested in American banks through: Interest on bonds.

- Agreement on consumption in US infrastructure and military equipment.

4- The political employment of the dollar The United States has invested surplus revenues from oil and gas revenues from the invested dollar, as it lent to developing countries in return for interest that led to the accumulation of debts of these countries to tighten political control over them.

5- Geo-economic conflict and sanctions Since the economy is inseparable from politics, the political and military crises were a reason for shrinking the dominance of the dollar, which was estimated at 40% more than before in Asia, South America and African countries, and contributed to the establishment of new economic organizations, the most important of which are Shanghai and BRICS.

Today, we find that many important countries have decided to join these organizations as active members. During the month of June, applications submitted by Saudi Arabia, the Emirates, Turkey, Iran, Kuwait and other countries will be decided.

6- Dollar sanctions and the "Swift" system The SWIFT system is a global financial artery that allows for the smooth and fast movement of money across borders.

The word "SWIFT" is an acronym for "Society for World Interbank Financial Telecommunication". It was established in 1973, and its centers are distributed between Belgium, Berlin and New York, and the last center is the most prominent and controlling dollar transfers.

This system, which connects thousands of banks in more than 200 countries, and controls global trade, has emerged from its technical reality towards political exploitation, as it has become the striking hand of financial sanctions imposed on companies and countries that are not compatible with Western policies, especially American ones, which forced countries and vulnerable parties These sanctions to search for alternatives to the "Swift" system.

7- The dollar from domination to occupation As we mentioned above, the beginnings of the global system that emerged after World War II were with Washington imposing the hegemony of the dollar on the global economy, then extending its complete control, before it turned into an occupier of the economies of countries through their dollarization and control of all their economic joints, which enabled the Americans to impose their conditions on them. . 8- Conflict with China The expansion of the dollar's occupation of countries' economies and the use of the "Swift" system for political purposes coincided with China's economic rise, the flourishing of its trade globally, and its renewed ambition to reactivate the "Silk Road" through the "Belt and Road" initiative, until it began using the yuan in its commercial dealings with several countries, which frightened the United States.

And made it enter into multiple conflicts with the Asian country, which took multiple dimensions, as follows: - Struggle over seaports. A struggle to stop the "Belt and Road" initiative.

- A conflict related to "Swift" and the establishment of a auxiliary financial system that breaks global economic unilateralism.

- An American conflict with the countries of the continent of Asia, especially China, over sources of energy, gas and precious metals.

- The struggle of new equations between winner-winner and winner-loser.

The struggle of the new economic blocs. Cryptocurrency struggle. It was remarkable the statement of French President Emmanuel Macron about the necessity of European action to gradually abandon the dollar and reduce dependence on it outside regional borders, with the aim of distancing the US-Chinese conflict from Europe.

Macron met with his Chinese counterpart, Xi Jinping, to strengthen relations between the two parties. France is the first Western country to announce its quest to abandon the dollar.

Just as the Second World War produced a new world order at the time, it is now possible for a multipolar world order to emerge from the Russian-Western conflicts and the geopolitical conflicts between China and the United States and their allies.

Just as the United States, as a powerful country, called for its conference in a remote village in 1945, it became possible to witness China's call for a new global conference in which the yuan would have dominance over the markets.

It has become self-evident to say that the world is changing, and the dollar is no longer a function of the global system, and major shifts in the orientations of peoples and states and their economic and political choices will inevitably affect the power of America and its currency, and it is certain that a new world order is taking shape, but its features are not yet clear.