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The Thirty-Six Trillion Dollar Question: A Report Card on the US Dollar’s Global Hegemony
WORLD

The Thirty-Six Trillion Dollar Question: A Report Card on the US Dollar’s Global Hegemony

In mid-2026, the US national debt quietly passed the historic $36 trillion mark, with net interest payments on that debt now comfortably exceeding the national defense budget. As the BRICS bloc continues to recruit new members and promote local-currency trade, the durability of the 'exorbitant privilege'—the US dollar’s role as the world's default currency—is facing its most serious structural test in eighty years. This report card evaluates whether the greenback remains an unassailable financial shield or a crumbling foundation of American superpower status.

By Sophie Laurent|yesterday