Renowned Economist Predicts The End Of The Dollar's Decline Within 10 Years

One of the leading economists of the Western world spoke about the role of the dollar in modern conditions. This is Nouriel Roubini, who is considered a successful forecaster after he once predicted the international economic crisis of 2008-2009.

Now Roubini has declared that the US dollar as the world's most important currency is in decline. In an article for the Financial Times, the economist drew attention to the fact that these processes are connected with the growing confrontation between the United States of America and China.

Rubini in the author's material:

This confrontation affects the US dollar as a reserve currency. The dollar will experience the completion of its decline over the next decade.

In this case, the economist also sees a problem in the fact that the domestic American financial system creates obstacles for emerging markets. And as one of these obstacles, he called a record inflation in the United States in recent decades. It does not add enthusiasm to countries that are used to investing in the dollar.

Roubini also gave one of the examples of the fact that the role of the dollar in the modern world has been shaken. As such an example, he cited China's payment for Saudi oil in yuan, with which the Saudi government agreed in principle.

Rubini:

This means that in the future such payment may be made in Chinese yuan, which will push the dollar back, completing the sunset of its era.

Comments

[Mazunga]

mama swear by this Rubini))) the age of soldering on the beaches of Varadero will definitely roll over))) well, they print holy fools, they probably want to make fun

[Vladimir80]

yeah, the American Khazin, once guessed the lottery - now he is trying to earn money on this for the rest of his life, it's better to see how many of his predictions did not come true ...

[Asad]

He wrote in a comment that he had read about the collapse of the dollar in 1972 in Crocodile magazine. And the moderator deleted the comment, I wonder what I violated !?

[rotmistr60]

Most likely the top comment you replied to was deleted. In this case, their answers to it are automatically deleted with a deleted comment.

[ivan2022]

Therefore, without a big war, things will not do. The fact that Russia in such cases always turns out to be not ready is a common thing, but this time we managed ON THE EVE to also prudently split into parts. And even cause a bloody strife.

[Vladimir80]

but what is happening on the outskirts is that not a big war ??? and why this new war, if the West is really doing well?!?!

[ivan2022]

This is an intermediate result of the collapse of the USSR. You will see the final one later. You still don't know what a "big war" is

[FemiA]

The west is fighting for survival just as Russia is. West fighting for survival of hegemony. Russia survival of statehood in current form. Neither can afford to lose. If the west loses, the consequences to them could be extremely painful. If Russia loses, hovering vultures could move in.

The stakes are extremely high.

[Alex Nevs]

Therefore, we are preparing. Or do you think otherwise?

[epicurean]

In my memory, the dollar has already been buried since the end of the 70s, when it was explained to us at school that “just about” the era of the dollar and the entire capitalist economy will end. At the beginning of the 1s, this leitmotif was picked up again. Open YouTube and look for "Leontiev's forecasts about the imminent death of the dollar" - which he regularly broadcast on Channel XNUMX in his program "However".

By the way, this economist predicted a lot of things earlier, but nothing came true. For example, about the complete collapse of the Russian economy with the price of a barrel of oil below $70. Like other similar "forecasters" they use the formula: "twice a day, an idle clock shows the exact time."

[Azim77]

When will the trolley bus arrive?
Someone: in 5 minutes.
Did not come.
Someone: soon, exactly within 10 minutes.
Didn't come... But everyone was waiting and that's why they cheered themselves up so much.
And then everyone saw characteristic horns in the distance and the trolleybus really arrived ..

[Stas157]

Quote: Azim77

When will the trolley bus arrive?

And if you compare it with a meteorite that should fall into the garden, then what will be the probability?

To talk about the collapse of the dollar, there must be a replacement for this dollar. So far, there are no alternatives. The yuan cannot be an alternative for the same reason as the ruble. The yuan has worse liquidity and stability.

When an instrument arises that is just as liquid and less prone to inflation than the dollar, then the issue of the collapse of the dollar will be resolved by itself.

[FemiA]

Why should the dollar be replaced by another nation's currency? What's wrong with Gold? I don't think there was ever a need for the dollar as reserve currency, the Americans in conjunction with the Saudis artificially created this need, smart move by the way!

[Andy_nsk]

In my memory, the dollar has already been buried since the late 70s

yes, I also remembered forecasts from forty-five years ago (age allows), and "evergreen" is so "unstable" and "prone to inflation" that in the summer it managed to surpass the euro for some time. In any case, I trust green more than wood.

[blackGRAIL]

The dollar cannot be buried by a strong-willed decision. Even if you really want it. Not so simple. Western policy in general and globalization in particular, as well as the higher quality of life that has developed in the West compared to the rest of the world, have led to a flow of brains and technologies to the West. As a result, it has largely concentrated/monopolized high-tech products.

For example, there are two conditional third countries that do not belong to any blocs. And country A exports resources from country B, for example. Or they just trade with each other. They could do it in national currencies or in Russian rubles, but they trade in dollars or euros. Why? They need high-tech goods that Western countries produce. And you can buy them only for dollars or euros. Accordingly, the position of the dollar in foreign trade between these countries depends on their dependence on Western products. China is increasing its own production of these products and there is an alternative to buy it also for the yuan, and this is what brings the yuan into the status of an international currency. No appeals, decisions or declarations to abandon the dollar can undermine its status. It is a question of in which currency area the means of production are located.

[tralflot1832]

And why do the Saudis trade oil with the United States? For reals, yuan, or all the same for dollars. When the world stops lending in dollars, then we'll talk.

[rotmistr60]

Quote: Vladimir80

in the West, in reality, everything is fine?!?!

And apparently you are firmly convinced of this, despite the forecasts of European and American economists? In the same way, having heard about Rubini, having read this article, they made a categorical conclusion about his insolvency.

and why this new war

And why is the United States escalating the situation around Iran, Taiwan? Just for sport?
About the dollar. the time will come and perhaps its "sunset" will come, but not earlier.

[Dimachrus]

It seems to me that this information is more intended for the internal audience of the states, a kind of attempt to push manufacturers to return production from China

[Blackmokona]

Quote: Dimachrus

It seems to me that this information is more intended for the internal audience of the states, a kind of attempt to push manufacturers to return production from China

They are already fleeing en masse because of the rapid growth of wages in China.

[blackGRAIL]

And it is on production that the world status of the dollar is based, more precisely, on which currency zone the means of production of high-tech goods are located. China has entered the club of world reserve currencies precisely because it produces a significant part of such products.

[Fizik13]

I also want the dollar to collapse! BUT!
Since 2014, forecasts that the dollar is about to collapse appear almost every week.

[APASUS]

I think it all depends on the US itself. If now the conflict with China begins with the blocking of China's funds. That the dollar will roll most likely in a couple of months

[blackGRAIL]

If the conflict with China begins with a total blockade of China's access to high-tech products (China mainly buys the same equipment for the production of microelectronics in the secondary market), then China's ability to produce this very high-tech product will be severely undermined. And if the whole world can buy it only in the western / American-controlled zone for only a dollar, then no sincere desire to leave it is worth nothing. Russia did not increase its investments in the dollar at the end of 2022 out of its own will?

[APASUS]

Quote from: blackGRAIL

If the conflict with China begins with a total blockade of China's access to high-tech products (China mainly buys the same equipment for the production of microelectronics in the secondary market), then China's ability to produce this very high-tech product will be severely undermined.

That is, they cut off their own tail? Is there US dependence on China?

The US Congress is going to pass a regulation that would introduce additional obligations for the Pentagon in the use of high-tech products. As it turns out, American lawmakers are concerned about the fact that such products often come to the United States from China.


Earlier, an example was given of a case when surveillance cameras were installed in the US Air Force repair hangars, which, according to documents, were made in America, but in fact turned out to be with Chinese “stuffing”.

Quote from: blackGRAIL

And if the whole world can buy it only in the western / American-controlled zone for only a dollar, then no sincere desire to leave it is worth nothing. Russia did not increase its investments in the dollar at the end of 2022 out of its own will?

Imagine that C Korea and Iran do not use the dollar and nothing

[Stas157]

. he named record inflation in the United States in decades. It does not add enthusiasm to countries that are used to investing in the dollar.

What problems
they didn’t name it, but dollar inflation is the main reason for looking for a replacement for the dollar. But the difficulty is that other currencies are less liquid and even less stable than the dollar.
There is no replacement for the dollar even on the horizon. An intelligent investor will never invest his money in the yuan, so as not to lose it on devaluation.

[alexey_444]

Well, in principle, he fell into Mr. Obviousness. The USSR did not threaten the dollar, since China, and given the degradation of Western society and the objection of the third world, the Americans have only one salvation - a nuclear war, and therefore they are promoting national structures so that after the nucleus in another place baboons spread rot. And Putin plays along with hints. I hope our elite knows more than we do.

[Cayz kfgby]

The dollar will experience the completion of its decline over the next decade.

As Khoja Nasreddin said: - “After all, in ten years, one of the three of us will surely die - either a dollar, or a donkey, or I - Rubini. And then go figure out who knew the economy better!”

[Alexey Alekseev_5]

And where to look for this oracle in 10 years?

[Dutchman]

You don't need to be a great economist to understand that the dollar will leave as a world currency only when a real competitor appears, and who can compete there, ruble, yuan or tenge? Don’t tell me, even the euro doesn’t shine while the war in Europe is going on, so in the short term, sadly, nothing threatens the dollar