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Harvard Professor Warns Dollar Faces Legitimacy Crisis

3/30/2026

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Summary

Story summary

Professor Kenneth Rogoff of Harvard University warns that the U.S. dollar faces a legitimacy crisis.
The decline in dollar dominance is driven by competition from the yuan and euro, geopolitical tensions, and the rise of cryptocurrencies.
President Xi Jinping of China has called for the yuan to become a global reserve currency.
Rogoff's May 2025 book Our Dollar, Your Problem discusses potential shifts in global finance.

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Story summary

Professor Kenneth Rogoff of Harvard University warns that the U.S. dollar faces a legitimacy crisis.
The decline in dollar dominance is driven by competition from the yuan and euro, geopolitical tensions, and the rise of cryptocurrencies.
President Xi Jinping of China has called for the yuan to become a global reserve currency.
Rogoff's May 2025 book Our Dollar, Your Problem discusses potential shifts in global finance.