In a multipolar world the dollar’s dominance won’t last forever

The US's grip on the global economy was demonstrated at the Jackson Hole gathering, while the Johannesburg gathering of the Brics countries showed a challenge to America's dominance, highlighting tensions between the US and emerging market countries and the potential shift in the international financial system.

theguardian.com

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8/22/2023

MORNING BID AMERICAS-World markets bounce at last

World markets experienced some relief as the bond squeeze eased, with investors eagerly awaiting signals from the Federal Reserve conference in Jackson Hole and hopeful for a resurgence of the early-year AI craze. President Xi Jinping's attendance at the BRICS summit in South Africa also provided some positivity for China's economy.

8/24/2023

Can BRICS dethrone the US dollar? It’ll be an uphill climb, experts say

A group of developing countries known as BRICS, including Brazil, Russia, India, China, and South Africa, is determined to challenge the dominance of the US dollar in global finance and trade through the process of de-dollarization, which they believe is irreversible and gaining pace. The shift away from dollar dominance is driven by recent geopolitical tensions and the desire to have more choices in global financial interactions, rather than being anti-West or anti-dollar. However, experts believe that the dollar will remain the dominant global currency for the foreseeable future.

8/25/2023

Jackson Hole: Fed policy collides with reality in the most unequal county in America

Despite being the most economically unequal place in the United States, Jackson Hole, Wyoming, hosts the annual symposium of global financial leaders and economic elites, who will discuss policy decisions that affect the economy, while residents experience the hard impact of elevated inflation, high interest rates, and a softening economy.

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Posted 8/27/2023, 9:56:00 AM