Talk of a joint BRICS currency feeds into ‘decline of the dollar’ rhetoric. But it is the economic bloc’s focus on innovation that will reshape the international system.
China and the U.S. compete to be the world’s largest economy, but the dollar dominates the yuan as a currency.
peng song/Moment Collection/Getty Images
Despite China’s economic power, the yuan lags as a major global currency. Here’s why current US interest rates and sanctions on Russia may change that.
EU consumers are familiar making payments with traditional coins and bills, but soon they could be joined by an ‘e-euro".
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Central banks are now taking digital currencies seriously, and the EU is exploring the idea. While an “e-euro” could increase monetary security and stability, the venture is not without risks.
British shoppers won’t have seen any difference to the value of their pounds yet, but everything from baked beans to bargain holidays could be affected down the line.
Arturo Bris, International Institute for Management Development (IMD)
The greenback has taken a pounding in 2020, but it’s about to make a comeback.
Meeting of the ambassadors of the Committee of Permanent Representatives to the EU to discuss the coronavirus crisis Brussels, 24 March 2020.
European Union
Most countries manipulate their currencies – at least a little – but at the moment that’s not the real reason they are undervalued relative to the dollar.
The euro just turned 20.
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While the euro’s survival for two decades is evidence of its success, it was born with fundamental problems that have weakened it, leading to near-constant crisis.
Economists and Wall Street workers fear a recession is underway.
Reuters/Brendan McDermid
Europe is experiencing a wave of optimism that its seven-year Greek drama may be finally coming to a close. Only one way to do that: Share Greece’s pain.