Special Edition: De-Dollarisation and the New Monetary Order
Multipolarity
The Breton Woods System
In 1998, the Russian Federation defaulted on debt. This interacted to a certain degree with the Asian market. South Korea and all of these Asian countries, they had to turn to the IMF for help. The way that they accumulated those reserves is they financially repressed their home economies. They ran huge trade surpluses, and by running these huge trade surports, they accumulated massive amounts of US dollars.
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