For decades, the world has run on the dollar. Oil is priced in dollars, most trade invoices are written in dollars only, and when a central bank anywhere from Lagos to Jakarta wants to build a reserve safety net, it still reaches for US Treasury Bonds First. This is not an accident, and it never should be. It is the result of America’s size, for its deep and liquid bond markets and the kind of institutional trust that took decades. Illustration by The Geostrata But lately a q

The global economy is rapidly evolving. Complexities in supply chain, increasing transnational demand and the rise in funding for...