The Globe and Mail reports in its Thursday, Sept. 5, edition that JPMorgan says reports of the U.S. dollar losing its dominant position in the global financial system are inaccurate. A Reuters dispatch to The Globe reports that the bank believes that the U.S. dollar's status remains strong due to factors such as the increasing amount of dollar-denominated bank deposits in emerging markets and the behaviour of sovereign wealth funds. JPMorgan said the greenback's share in total world liabilities is still increasing. It said any decline in the dollar's share of global trade should not be mistaken for de-dollarization. Additionally, the bank warned about the potential risk of a fragmented international payments systems. The report also discussed the rise of digital versions of national currencies being piloted by dozens of central banks, which could provide alternatives to the U.S. banking system. It also pointed out the growth of e-commerce innovation and activity in China and India compared with the U.S. and Western Europe. Lastly, the report noted that Russia, China and other countries are building alternatives to the SWIFT bank-to-bank system in response to Washington's use of tough financial sanctions.