While the Biden administration ignored it, BRICS countries devised a plan to undermine the dollar. Trump has vowed to oppose de-dollarization, but can he stop it?
The ones who get to enjoy lower rates are the ones who live on the right side of the euro-zone border. But not in the way we usually think of the euro zone.
The drastic devaluation of the peso marks the beginning of President Milei’s crusade against inflation in Argentina. But he needs more than that to succeed.
Can the U.S. government and its allies prevent a determined group of countries from de-dollarizing and significantly hurting the U.S. economy in the process? How would de-dollarization be affected if the unthinkable happens and Russia wins in Ukraine?
In the first quarter of this year, the euro area ran a combined trade and financial deficit vs. Russia of €-26 billion. Only the deficit vs. China was bigger, at €-38.8 billion.
