THE BOTTOM LINE
Despite the de-dollarisation debate, demand for dollar liquidity in Asia is growing
Asian institutions are taking a more strategic approach than they did during the low-rate era
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GEOPOLITICS, changes in global trading relationships, volatility, reserve diversification, and alternative payment systems have all contributed to a view that we are heading towards a world that is less reliant on the US dollar.
Yet, when I speak to our clients across Asia, the reality on the ground is somewhat different.
For many institutions in the region, from insurers to exporters of consumer goods, the question is not whether they need dollar liquidity – it is how effectively they can manage it in a global financial system that remains US-centric.
