The dollar could eventually lose its status as the world’s reserve currency if the US fails to maintain its economic and military dominance, JPMorgan Chase CEO Jamie Dimon said.
“If we’re not the strongest military in 25 years and the strongest economy, we won’t be the reserve currency either,” Dimon said on PBS’ “Firing Line with Margaret Hoover,” which aired over the weekend.
“The world will be fragmented, and it’ll be very dangerous for us,” Dimon added.
The dollar remains the world’s dominant reserve currency, accounting for about 57% of global foreign-exchange reserves, down from around 70% at the turn of the century.
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