Global currency volatility reflects systemic risks of protectionist trade policies amid shifting geopolitical alliances

The dollar's dip is a symptom of deeper systemic failures in global trade governance, rooted in protectionist policies that prioritize short-term gains over long-term stability.

Historical parallels, such as the Great Depression, demonstrate the cyclical nature of these crises, yet mainstream analysis frames them as isolated events. Indigenous and Global South economies offer alternative models, such as reciprocity and cooperative trade, which could mitigate volatility. However, these perspectives are marginalized in favor of neoliberal narratives that serve corporate and financial elites. Future modelling suggests that continued protectionism will exacerbate instability, yet policymakers lack the political will to implement systemic reforms. To address these challenges, a multilateral framework that incorporates diverse economic models, stricter financial regulations, and decentralized alternatives is necessary. By centering marginalized voices and historical lessons, a more equitable and stable global trade system can be achieved.