Asian Governments Accelerate De-Dollarization Efforts

Across Asia, a significant trend is underway: governments are actively reducing reliance on the US dollar. ASEAN, particularly, has ambitious plans to achieve full de-dollarization by 2030. This push, driven by concerns about geopolitical risks and financial instability, targets shifting away from the dollar for both trade and asset management. 2026-2030 represent a timeframe for this shift, with national currencies, gold, and digital assets like cryptocurrencies being prominent candidates for replacement. 5-year plans in key regions are already underway. Central banks across ASEAN, particularly in countries like Singapore and Indonesia, are taking the lead in driving these initiatives. Economists have highlighted that these moves are a direct response to economic sanctions, tariffs, and rising geopolitical risks.