> I'm wondering if the countries moving off the dollar reserve are countries we would even want on the dollar
The US Government has gone to War with or at the very least militarily involved with the entire World except for 3 countries: Andorra, Bhutan, and Liechtenstein. You vastly underestimate how much bad blood US Government has created over the years with various countries in their own capacities. Heck the USG spies on its own all-weather Allies and recently blew up the Nord Stream Pipeline (in a covert operation no less).
> I get that Russia, China would try to diversify — not a surprise though.
You might want to include India in the list too. And it should come as a surprise to you that there are plenty of other countries, who have been historically neutral, are badly wanting to diversify and de-dollarize. India now does trade directly in INR with 18 countries [1]. Just a year ago there were only 4 countries we traded in INR with (this is apart from the 18 new countries that we added recently). If this doesn't ring alarm bells nothing else will.
> (The article mentions the "Global South" - I had to look it up. That's a pretty broad region that includes all of South America, Mexico, all of Africa, South Asia.... it seems unlikely all these regions are moving off the dollar.)
You are unfortunately living in a bubble.
[1]: https://www.wionews.com/business-economy/rbi-allows-banks-fr...
The US Government has gone to War with or at the very least militarily involved with the entire World except for 3 countries: Andorra, Bhutan, and Liechtenstein. You vastly underestimate how much bad blood US Government has created over the years with various countries in their own capacities. Heck the USG spies on its own all-weather Allies and recently blew up the Nord Stream Pipeline (in a covert operation no less).
> I get that Russia, China would try to diversify — not a surprise though.
You might want to include India in the list too. And it should come as a surprise to you that there are plenty of other countries, who have been historically neutral, are badly wanting to diversify and de-dollarize. India now does trade directly in INR with 18 countries [1]. Just a year ago there were only 4 countries we traded in INR with (this is apart from the 18 new countries that we added recently). If this doesn't ring alarm bells nothing else will.
> (The article mentions the "Global South" - I had to look it up. That's a pretty broad region that includes all of South America, Mexico, all of Africa, South Asia.... it seems unlikely all these regions are moving off the dollar.)
You are unfortunately living in a bubble.
[1]: https://www.wionews.com/business-economy/rbi-allows-banks-fr...