Global Shift to Bypass the Dollar Is Gaining Momentum in Asia
www.bloomberg.com
Banks and brokers are seeing rising demand for currency derivatives that bypass the dollar, as trade tensions add a sense of urgency to a years-long shift away from the greenback.
  • manxu@piefed.socialEnglish
    12·
    18 hours ago

    I mean, the first requirement of a global currency is stability, the second growth. The dollar has not delivered on either, lately.

    • shawn1122@lemm.eeEnglish
      322·
      1 day ago

      America has been on that path for sometime. It’s voting public has been unstable (in terms of lacking the efficacy to choose a stable and reliable government) for nearly a decade now.

      • andyburke@fedia.io
        16·
        1 day ago

        Much longer than that. We have been see-sawing for a half century or more. It is amazing we have held on this long. I thought Bush II was the end. Lol at how I had thought we had hit rock bottom.

        Edit for the tempted fates: I don’t even think there IS a bottom anymore.

        • blargle@sh.itjust.worksEnglish
          8·
          24 hours ago

          If you had time travelled to tell me 20 years ago, right after seeing Kerry get swiftboated and W win a second term- where the US would be politically in 20 years’ time- my expression would not be one of shock. You’d get a frown, a nod, and a “yepppp… sounds about right.” In fact I even remember telling a friend at the time something like: “20 years from now, this country is going to be basically Russia.”

      • hypna@lemmy.world
        1·
        15 hours ago

        Sure the American public is going through a bad phase right now, but that’s pretty normal. The fact that having a demagogue capture maybe 15 percent of the public’s support (I’m only counting real MAGA) has caused the entire government to radically change is an indictment of the political systems, more than the public. Specifically gerrymandering, plurality voting, the electoral college, bicameral legislature with filibuster, lifetime court appointments, and an independently elected president. Probably more that I’m forgetting about. Human nature isn’t going to change, but we can change how a nation makes policy.