Mounting US debt and record inflation levels have some analysts warning of a potential crisis in which “the US dollar’s hegemony will go bust” and affect the global monetary system. Illustration: Perry Tse
Mounting US debt and record inflation levels have some analysts warning of a potential crisis in which “the US dollar’s hegemony will go bust” and affect the global monetary system. Illustration: Perry Tse

Chinese warn US debt, dollar hegemony may lead to another ‘Nixon shock’ with global implications

  • ‘Nixon shock’ occurred a half-century ago when economic policy shifts by US President Richard Nixon upended the international monetary system
  • US ‘doomed to bring a second shock to the world’, globalisation expert says, pointing to record inflation levels and mounting debt

Mounting US debt and record inflation levels have some analysts warning of a potential crisis in which “the US dollar’s hegemony will go bust” and affect the global monetary system. Illustration: Perry Tse
Mounting US debt and record inflation levels have some analysts warning of a potential crisis in which “the US dollar’s hegemony will go bust” and affect the global monetary system. Illustration: Perry Tse
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