OMFIF’s most read 2020: China’s dollar pragmatism, After the Covid-19 recession
Tuesday 5 January 2021 – Vol.12 Ed.1.2
The year’s top stories: China’s dollar pragmatism
By Kathleen Tyson in London
Speculation about the dollar’s decline is premature. The global financial plumbing will not change quickly. It took a century of New York banks’ financial activism and extensive global interbank innovation and collaboration to make the dollar a hegemonic currency. It will only lose its status if Chinese policies make use of the renminbi more practical for foreign banks and investors, while American policies make continued use of the dollar impractical.
(First published: 11/09/2020)
Read the full commentary on the website.
he year’s top stories: After the Covid-19 recession
By John Nugée in London
The world will come through the Covid-19 crisis and recover from the recession that will follow it. But to expect life to go back to how it was in 2019 would be wrong. The shape of the world economy, society and international trade will change. The role of the state will expand, supply chains will become more resilient and social solidarity will increase. The Covid-19 crisis will pass and the sun will shine again. But it will shine on a rather different world.
(First published: 31/03/2020)
|Read the full commentary on the website.|