Just one per cent of Sweden’s GDP circulates as cash. As debates over the need for cash rage along lines of age, wealth and location, the country is looking to create a digital currency.
Nearly 90% of international transactions in 2019 were in U.S. dollars, giving the U.S. extraordinary power over nearly every entity that imports or exports anything anywhere. Here’s how the global economy runs on the U.S. dollar — and why some countries are trying to chip away at its dominance.