After the U.S. dollar supplanted the British pound sterling in 1945,it gradually established its core position in the international financial system. Because it was so entrenched in the whole system,even the collapse of the Bretton Woods system in 1973,the challenge of the Deutsche mark and the Japanese yen in the 1980s,and the threat of the euro after 1999 have not shaken its status.

The 2008 U.S. Financial Crisis once caused a lot of worries that the status of the U.S. dollar was about to decline,and the successor was most likely to be the euro or the yuan. Unexpectedly,the European debt crisis a few years later threatened the survival of the euro,so confidence in the dollar regained. Nowadays,many people believe that the dollar will be in a hegemonic position for a long time and it is difficult to be replaced. Of course,there are voices of doubt. But no matter what,judging from various indicators,the current leading role of the dollar in the international financial system is even no less inferior than it was when the Bretton Woods system was established after World War II.