Ray Dalio says fewer countries want to hold the dollar as China trade grows and Russia sanctions expose new risks

• Global central banks are less willing to hold the dollar, billionaire investor Ray Dalio said.
• One reason is that China's share of global trade is rising while the US share is falling.
• Another is that Western sanctions against Russia have exposed new risks for holding dollar assets.

The dollar's dominance is fading as the greenback's importance slips in global trade while Western sanctions against Russia have exposed new risks to holding the currency, billionaire investor Ray Dalio said.

Central banks are less inclined to hold the dollar, the Bridgewater Associates founder said last week in an interview on the Julia La Roche Show.