Bloomberg Businessweek March 25, 2024
Bloomberg BusinessweekQuotes
The greenback is on one side of 90% of currency...Türkçesi yorum kısmında
The greenback is on one side of 90% of currency transactions worldwide, and two-thirds of international debt is denominated in dol-lars. Global commodity markets, such as that for oil, are ruled by the dollar.
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The strong dollar helped the US...Türkçesi yorum kısmında
The strong dollar helped the US economy prosper in the 1990s. Growth averaged 3.8% in inflation-adjusted terms under Bill Clinton, com-pared with 2.8% under his predecessors Ronald Reagan and George Bush. But the strong green-back also had insidious side effects. Coupled with the rise of China, it contributed to the hollowing out of the US manufacturing sector. The Rust Belt states saw factories shutter and company towns col-lapse as employers decamped to lower-cost locales.
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is more pessimistic...Türkçesi yorum kısmında
Mark Sobel, a retired 40-year veteran of the Treasury Department, is more pessimistic. Citing increasingly populist policies of both Republicans and Democrats and how they’ve eroded America’s standing as a leader on international economic issues, Sobel says the “odds seem stacked against the US exercising robust international economic leadership” at all.
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“The thing about the US over...Türkçesi yorum kısmında
“The thing about the US over the next decade or so is how skillfully we navigate this big change in relative power,” says Timothy Geithner, who was Treasury chief during the Obama years. Treasury’s “authority comes from the quality of the people, the decisions they make, its reputation for integrity and the perception that it takes a longer-term view of US interests, slightly beyond politics,” he said.
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Since 2001, which marked the start of an era in which US governments sharply expanded the use of economic sanctions, the greenback’s share of global foreign exchange reserves held by central banks has dropped from 73% to 59%. Gulf nations are starting to settle oil trades in the Chinese yuan, and other commodity producers are considering similar shifts.
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