According to CoinMeta, Miao Yanliang, the chief economist of China International Capital Corporation ( CICC ), stated that the recent increase in the dollar's share in the global foreign exchange market does not indicate a reversal of the de-dollarization trend. In an article for The Financial Times, he pointed out that the long-term trend towards diversification is real, and the dollar will not be ignored in the global currency market. He emphasized that de-dollarization will continue, due to the weakness of U.S. Treasury bonds. The Treasury bonds that have supported the dollar's dominant position for decades are causing central banks around the world to reconsider their decisions. With the rise in U.S. public debt and the increased international use of financial measures such as sanctions, some institutions have begun to re-evaluate the use of Treasury bonds. Miao Yanliang warned that central banks are still considering de-dollarization because the dollar is damaging their reserves.