Special Edition: De-Dollarisation and the New Monetary Order
Multipolarity
The Seismation of the Russian Reserves
The global trading system is increasingly out of balance, says Julian Zelizer. China has switched from an external growth function to a domestic investment growth function in the last 15 years and that's where we're seeing this shift take place. The U.S. seized Russian reserves as part of its response to Russia's invasion of Ukraine but people have forgotten about it until now. This created a situation where everyone was just looking for when it might slow down enough to kind of throw themselves outside the nearest door and roll to safety.
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