ISMAIL LAGARDIEN: US stands tall against pretenders to the global reserve currency crown
The transition from West to East is unlikely to shake the dollar bastion in the next few decades
19 April 2023 - 05:00
I was asked recently to comment on the diminishing flow of foreign currencies to African countries. I think it went well; it’s hard to tell with broadcast media.
There are, of course, any number of explanations, the most obvious being insufficient foreign trade, declining tourism, high inflation and dwindling remittances. An explanation that requires greater depth, scope and span, especially attention to history and the rise and fall of matters that are decisive, is subjective. With heavy caveats, you either believe the US, as global hegemon, has been good for the world, or you don’t. ..
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