De-dollarization Quests in the Global Financial System and the National Economy Model
In the process of de-dollarization, where the dominance of the US dollar in global trade is being questioned, the alternative financial solutions offered by the National Economy Model and discussions on the transition to a multipolar trade order are coming to the fore.
The global financial structure, established after World War II with the Bretton Woods system and centered on the US dollar, is facing a serious process of change due to the impact of geopolitical tensions and financial sanctions.
The use of financial sanctions by the US as a policy tool has pushed many countries to seek new solutions regarding reserve security. This situation has triggered dynamics such as the increase in trade with local currencies in the global economy, the development of alternative payment systems, and the strengthening of gold reserves.
The National Economy Model, introduced to the literature by Prof. Dr. Haydar Baş, proposes sustainable alternatives in this process against global dollar hegemony, such as swap systems with national currencies, consumption-based growth, and the use of national currency backed by markets. The world economy shows a tendency to evolve from a unipolar financial structure toward a multipolar trade order.