Most world trade is in dollars. The United States is facing persistent and huge current account deficits. At the same time, not only China but also developing countries are building up significant dollar reserves, which excessively increases savings and hampers economic growth in the world. This situation raises concerns about the loss of confidence in the dollar by investors. The Governor of the Bank of England sees the starting point in the creation of a new international monetary system that would replace the dominant reserve currency with the dollar on the basis of multipolarity, even with the use of digital reserve currencies.