Joe Biden attends a memorial service for the nearly 400,000 American victims of the coronavirus pandemic at the Reflecting Pool in front of the Lincoln Memorial on January 19. Photo: Getty Images/AFP Joe Biden attends a memorial service for the nearly 400,000 American victims of the coronavirus pandemic at the Reflecting Pool in front of the Lincoln Memorial on January 19. Photo: Getty Images/AFP
Joe Biden attends a memorial service for the nearly 400,000 American victims of the coronavirus pandemic at the Reflecting Pool in front of the Lincoln Memorial on January 19. Photo: Getty Images/AFP
Andrew Sheng
Opinion

Opinion

Andrew Sheng

Joe Biden’s dollar policy holds the key to a fairer global financial system

  • How the US president steers the exorbitant privilege of the dollar is critical to the long-overdue reforms the global financial system needs to stop penalising the poor and emerging economies

Joe Biden attends a memorial service for the nearly 400,000 American victims of the coronavirus pandemic at the Reflecting Pool in front of the Lincoln Memorial on January 19. Photo: Getty Images/AFP Joe Biden attends a memorial service for the nearly 400,000 American victims of the coronavirus pandemic at the Reflecting Pool in front of the Lincoln Memorial on January 19. Photo: Getty Images/AFP
Joe Biden attends a memorial service for the nearly 400,000 American victims of the coronavirus pandemic at the Reflecting Pool in front of the Lincoln Memorial on January 19. Photo: Getty Images/AFP
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Andrew Sheng

Andrew Sheng

Andrew Sheng is a former central banker and financial regulator, currently distinguished fellow at the Asia Global Institute, University of Hong Kong. He writes widely on Asian perspectives on global issues, with columns in Project Syndicate, Asia News Network and Caijing/Caixin magazines. His latest book is “Shadow Banking in China”, co-authored with Ng Chow Soon, published by Wiley.