The crash of the greenback is set to coincide with the rise of other currencies, like the euro and the Chinese yuan.
In another stark warning, senior fellow at Yale University and former chairman of Morgan Stanley Asia, Stephen Roach, says coronavirus may cause dramatic decline of the US dollar in the near future.
“In a Covid era, everything unfolds at warp speed,”Roach said, in an interview with MarketWatch.
The prominent economist has, in recent weeks, been warning about the looming fall of the dollar and the end of its hegemony as a global reserve currency. While he previously predicted a 35-percent drop in the greenback against its major rivals, he now stresses that his forecast may happen“sooner rather than later.”ALSO ON RT.COMDemand for US dollar as world’s reserve currency ‘seems to be waning’ – Deutsche Bank
Ballooning US fiscal deficit, which has only worsened during the coronavirus pandemic, is one of the reasons for the imminent collapse, according to Roach. The current state of the US economy…
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