Brazil’s president, Luiz Inácio Lula da Silva, asked, “Why can’t we trade in our own currencies?” The US dollar’s role as world’s primary reserve currency for global trade was challenged at a finance summit in Paris by South African President Cyril Ramaphosa and his Brazilian counterpart Luiz Inácio Lula da Silva
The World Competitiveness Ranking, published by the International Institute for Management Development (IMD), shows the world’s most competitive economies, with the US falling to 9th place. This year’s World Competitiveness Ranking, published by the International Institute for Management Development (IMD) evaluates 64 economies based on more than 300 indicators across four broad categories:
Professor and economist Richard Wolff said that BRICS expansion goes hand in hand with de-dollarization and the decline of the ‘US empire’. The expansion of the BRICS group of emerging economies has coincided with the US dollar’s loss of dominance as the world’s reserve and trade currency. Professor and economist
Russia’s Mir payment system is contributing to the emerging global finance network, as Venezuela’s President Nicolas Maduro announced the introduction of Russia’s Mir bank cards in the country. Venezuela, with the introduction of Russia’s Mir bank cards in the country, is participating in the creation of a financial system of
Confidence in America is collapsing, and many leftist zealots are expressing complete shock over the United States’ perceived decline. Despite the cheering from the Washington Post, CNN, NY Times, and the rest of the anti-Democracy press that supports their stringent demands upon the nation, my phone has been in meltdown
The currency Lira has plunged after President of Turkey Erdogan appointed Hafize Gaye Erkan, the co-CEO of the failed First Republic Bank, as the new Central Bank Governor. Turkish President Erdogan, fresh from his re-election as president, has named Hafize Gaye Erkan as the new central bank head – and first ever female
According to experts, Germany’s recession is seen as the first falling domino within the EU, given that Germany has long been the flagship and a powerhouse of Europe. Germany entered a technical recession in the first quarter of 2023, according to recent figures from the Federal Statistical Office. What’s behind
Mark Zandi, chief economist at Moody’s Analytics, said that if the US defaults on its debt, no corner of the global economy will be spared. If the debt crisis roiling Washington were eventually to send the United States crashing into recession, America’s economy would hardly sink alone. The repercussions of
A new study published in the journal Science has warned that El Nino could wipe out $3 trillion of the world’s economy. El Nino is on the horizon, which can lead to severe heat waves and droughts in many countries, including India, and could take a $3 trillion toll on