Eurasia Review on Nostr: The World Monetary Order: From Currency Globalization To Currency Geopolitics – ...
The World Monetary Order: From Currency Globalization To Currency Geopolitics – OpEd
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The global economic order shifted significantly after Russia's war against Ukraine on February 24, 2022; Western sanctions on Russia have impacted the dominance of the US dollar, which held over 70% of foreign-exchange reserves by 2000; the dollar's share declined to 59% by 2020; the war has led to a multipolar world order, affecting currency globalization; BRICS+ countries are challenging the dollar's dominance, seeking to trade in national currencies; the euro, while second-largest reserve currency, cannot fully replace the dollar; the rise of the yuan is hindered by China's financial system issues; a new BRICS-backed reserve currency is proposed but faces challenges; de-dollarization could increase inflation in the US and enhance financial autonomy for developing countries; the interplay of monetary globalization and geopolitics is reshaping the world monetary order.
#MonetaryOrder #UsDollar #Brics #CurrencyGeopolitics #GlobalEconomy #Ukraine #Sanctions #Euro #Yuan #Dedollarization
https://www.eurasiareview.com/21112024-the-world-monetary-order-from-currency-globalization-to-currency-geopolitics-oped/
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The global economic order shifted significantly after Russia's war against Ukraine on February 24, 2022; Western sanctions on Russia have impacted the dominance of the US dollar, which held over 70% of foreign-exchange reserves by 2000; the dollar's share declined to 59% by 2020; the war has led to a multipolar world order, affecting currency globalization; BRICS+ countries are challenging the dollar's dominance, seeking to trade in national currencies; the euro, while second-largest reserve currency, cannot fully replace the dollar; the rise of the yuan is hindered by China's financial system issues; a new BRICS-backed reserve currency is proposed but faces challenges; de-dollarization could increase inflation in the US and enhance financial autonomy for developing countries; the interplay of monetary globalization and geopolitics is reshaping the world monetary order.
#MonetaryOrder #UsDollar #Brics #CurrencyGeopolitics #GlobalEconomy #Ukraine #Sanctions #Euro #Yuan #Dedollarization
https://www.eurasiareview.com/21112024-the-world-monetary-order-from-currency-globalization-to-currency-geopolitics-oped/