The Shift Away From The Dollar: How Trump’S Tariffs And China’S Cloud Finance Strategy Are Redefining Global Trade And Finance
John Okey Onoh (PhD)
Department of Banking and Finance, Faculty of Economics and Management Sciences, Abia State University, Uturu
Mbanasor Christian (Ph.D)
Department of Banking and Finance, Imo State Polytechnique, Omuma, Imo State
Keywords: de dollarisation, Trump tariffs, cloud finance, central bank digital currencies, cross regional survey, financial innovation, geopolitical risk
Abstract
The global monetary order is undergoing rapid transformation as the United States’ dollar faces challenges from geopolitical trade shocks and technological innovation. This study investigates how perceptions of Trump‑era tariffs and China’s emerging cloud‑finance and digital‑currency ecosystem influence expectations of de‑dollarisation. A purposive, cross‑sectional survey (N = 34) was administered to academics, international business executives, and investors across North America, Europe, Asia, Africa, Latin America, and Oceania (June 2025). The questionnaire captured latent constructs—tariff impact, cloud‑finance familiarity, cloud‑finance influence, digital‑currency confidence, de‑dollarisation expectation, and de‑dollarisation optimism—using five‑point Likert items. Confirmatory factor analysis confirmed measurement validity (CFI = 0.96, RMSEA = 0.05) and Cronbach’s α exceeded 0.78 for all composites. Ordinary‑least‑squares regression, controlling for region and respondent type, revealed that perceived tariff significance positively predicts de‑dollarisation expectations (β = 0.38, p = 0.020), supporting H₁. Familiarity with China’s cloud‑finance strategy is positively associated with the belief that it will become a major global finance player (β = 0.49, p = 0.004), confirming H₂. Digital‑currency confidence significantly predicts adoption intent (β = 0.44, p = 0.009), validating H₃. One‑way ANOVA indicated that North American respondents are significantly less optimistic about de‑dollarisation than all other regions (F(5,28) = 4.32, p = 0.004), supporting H₄. Robustness checks (ordinal logistic regression, bootstrap standard errors) affirmed the stability of these findings. The results suggest that both tariff‑induced geopolitical tension and fintech diffusion are reshaping perceptions of the dollar’s future, potentially accelerating a shift toward a more multipolar financial system. Policy implications include the need for diversified reserve strategies, investment in digital‑currency infrastructure, and regional cooperation to mitigate dollar‑centric vulnerabilities.