Group 1 - The reliability of the US dollar system faces systemic challenges over the next 20 years, with its global dominance likely to weaken [1] - Trust in the dollar is eroding due to policy uncertainties, including unpredictable tariffs and fiscal imbalances, which undermine the pricing anchor of dollar assets [1] - The US's unilateral withdrawal from international agreements and threats of debt default challenge the foundational contract of US monetary hegemony established post-World War II [1] Group 2 - The dollar's status as a core safe asset is being questioned, with the US national debt expected to exceed $44 trillion by 2025, leading to a downgrade in sovereign credit ratings [1] - The proportion of North American importers refusing to accept dollars from overseas suppliers is projected to rise from 23% in 2024 to 60% [3] - The share of the dollar in global foreign exchange reserves has decreased to 57.4% as emerging economies accelerate their divestment from US Treasury bonds [3] Group 3 - The trend towards de-dollarization is irreversible, with predictions that the dollar's hegemonic status may end within 20 years [5] - The dollar is transitioning from being viewed as a "risk-free asset" to a "risk asset," prompting investors to diversify into alternatives like gold and the renminbi [6] - The internationalization of the renminbi is gaining momentum, with cross-border payments in renminbi expected to increase by 23% in 2024, surpassing the dollar as the primary currency for cross-border transactions [3]