Pakistan, March 26 -- Global economic dynamics have shifted in recent years, calling into question the US dollar's long-held primacy. The dollar's status as the primary reserve currency after World War II and the Bretton Woods Conference is being challenged by new geopolitical, technological, and economic factors. Today, new currencies and alternative payment channels are increasingly being discussed, not only as a means of diversifying away from dollar dependency but also as prospective alternatives that, in certain cases, may even outperform the dollar.

Recent geopolitical realignments have fueled de-dollarization movements. It appears to have begun with the aggressive deployment of US financial penalties in response to Russia's invasi...