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
Follow your favourite topic and get notified
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
