Rise and fall of US-led neocolonial financial order: From Bretton Woods to BRICS
Geopolitical Economy Report
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The Rise of Alternatives to the US Dollar
The US dollar is overvalued, making it hard for countries in the global south to one service their debt and to pay for imports. Jerome Powell, who is the current chair of the Federal Reserve, sees Paul Voker as his role model. ASEAN finance ministers have agreed to create mechanisms for regional trade using their own currencies. The Indonesian government has called for regional trade and other currencies not in the US dollar.
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