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> the de-dollarization of the global economy is well underway Interesting, can you mention by chance what major data points you see that are suggesting this? T
by xhrpost 6y ago
> the de-dollarization of the global economy is well underway
Interesting, can you mention by chance what major data points you see that are suggesting this? Thanks.
- csomar 6y agoThe opposite is actually happening with the IMF pumping "free" money to 3-rd world countries. The CNY has lost ground to the USD in the last year and even during the pandemic.
- anttifoobar 6y agoNot GP, but this is an informative piece: https://amp.ft.com/content/f3ee37e0-b086-11ea-a4b6-31f1eedf762e?__twitter_impression=true https://amp.ft.com/content/f3ee37e0-b086-11ea-a4b6-31f1eedf7... Specifically on major data points, FT writes “if foreigners want to hold American liquid assets in vast amounts, the US must run a huge external deficit, unless its private sector wishes to load itself up with riskier foreign assets on a comparable scale“ which doesn’t seem very sustainable in longer term. (We’re operating in the current system effectively since 1971.) (The piece further mentions the possibility of the current system “destroying the open world economy” which does indeed seem a bit gloomy.) (It doesn’t look very good for Euro either: https://www.bloomberg.com/amp/news/articles/2020-06-22/ecb-looks-to-defuse-german-legal-timebomb-threatening-stimulus?sref=61mHmpU4&__twitter_impression=true https://www.bloomberg.com/amp/news/articles/2020-06-22/ecb-l... )