Nobel Prize-winning economist Paul Krugman criticized Tesla boss Elon Musk for being among those who are warning the US is "weaponizing" the US dollar.
paul-krugman
"Elon Musk is among those warning that weaponizing the dollar will destroy its reserve currency status, because of course he is," Krugman wrote.
Earlier, Elon Musk had said that the world is denouncing the dollar because the US has been weaponizing it through financial sanctions.
Elon had tweeted that if a country weaponizes its currency enough times, others will stop using it.
In an opinion piece in the New York Times, said that the dollar's dominance of global trade and investment flows is overrated.
Currently, several countries around the world are ditching the US dollar for international trade settlements.
According to Krugman, even if the US dollar loses its world’s reserve currency status, it won’t have much of an impact on the US economy.