Dollar to Play Lesser Role Due to Its Weaponization, Digital Currencies, Economist Jeffrey Sachs Says – Finance Bitcoin News
Bitcoin Le dollar jouera un rôle moindre en raison de sa militarisation, des monnaies numériques, déclare léconomiste Jeffrey Sachs BlockBlog Il y a 8 minutes Nouvelles Bitcoin Ethereum Within the next decade, the U.S. dollar will play a much less dominant role than it is today, according to Jeffrey Sachs. The renowned economist listed a few factors for the diminishing status of the greenback such as its use as a political weapon by Washington, the introduction of currencies like the digital yuan, and Americas shrinking share of the global economy. United States Smaller Share in World Economy to Affect the Dollar The role of the U.S. dollar will naturally decrease as the share of the United States in the planets economy becomes smaller and settlements in other currencies take hold, economics professor and Director of the Center for Sustainable Development at Columbia University Jeffrey Sachs predicted. Speaking at an online session of the latest Annual Columbia China Summit on Friday, Sachs noted that the international payment system is currently based on the dollar, with up to 60% of foreign trade settlements conducted or denominated in the U.S. fiat, and around half of currency reserves based on it. Jeffrey Sachs At the same time, the U.S. share of the