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EU wants less dependence on US dollar

11:23 29.01.2021 Andrey Kadomtsev

EU wants less dependence on US dollar

On January 19 the European Commission released a preliminary plan which is designed to reduce the European Union’s dependence on the US dollar. In addition, the plan signals an intention to protect European companies from Washington-imposed extraterritorial sanctions. As a long-term strategy, it states an intention to “considerably” increase the …

Dollar hegemony and Inequalities

13:56 14.09.2020 Alberto Cossu

Dollar hegemony and Inequalities

Many countries are engaged in implementing mechanisms to weaken the dollar. They chase the prospect that the world can be better once the US currency loses its strength and hegemony. China [In China, fears of financial Iron Curtain as U.S. tensions rise] is pushing for a reduction in the use …

Following the unknown route: the world in searching of dollar substitute

9:23 02.09.2020 Andrey Kadomtsev

Following the unknown route: the world in searching of dollar substitute

The ongoing escalation of trade wars and competition among the world’s top economies makes it imperative to consider institutionalizing several currency zones to form a sort of currency “multipolarity”.The forthcoming “currency multipolarity” became the subject of disputes in the 1990s, after the launch of a project to create a EU …

Will Asia pioneer the “de-dollarization” process?

11:00 16.12.2019 Andrey Kadomtsev

Will Asia pioneer the “de-dollarization” process?

Denmark-based Saxo Bank has released a new batch of "outrageous" predictions for 2020 that it believes could potentially destabilize the entire international system existing today. The bank’s experts predict, among other things, that in the coming year, the Asian Infrastructure Investment Bank (AIIB) may launch “a new reserve asset, called …

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