DOLLAR MILKSHAKE THEORY
Global Affairs Session 23 27 April 2026 DOLLAR MILKSHAKE THEORY Will de-dollarization kill it? De-dollarization and dollar strength can operate at the same time. Global financial stress may pull liquidity towards United States assets and strengthen the dollar in the short run, while sanctions, alternative payment systems, reserve diversification and wider access to dollar swap lines may gradually weaken long-term dependence on it.