A scary Halloween story for Trump’s America: a de-dollarised world order is coming

by Rashmee

Posted on November 2, 2019


The US president seems determined to decouple global economics from the hitherto mighty dollar. That’s the fear expressed by Paola Subacchi, international economics professor at the University of London’s Queen Mary Global Policy Institute. She should know. Dr Subacchi is author of ‘The People’s Money: How China is Building a Global Currency’. So, what’s her … Continue reading “A scary Halloween story for Trump’s America: a de-dollarised world order is coming”

Read More

The mighty Renminbi?

by Rashmee

Posted on February 25, 2019


Economist David Lubin begins his excellent piece on the Renminbi with a telling quote. “Great powers”, says the Nobel-laureate economist Robert Mundell, “have great currencies”. So where is China’s, asks Mr Lubin, author of ‘Dance of the Trillions: Developing Countries and Global Finance’. In the past 11 years, one might have expected the Renminbi to … Continue reading “The mighty Renminbi?”

Read More

​Instex is Europe’s first challenge to a dollar-denominated world order

by Rashmee

Posted on February 18, 2019 / First Post


Is 2019 the year de-dollarisation goes from being a crackpot Russian idea to something with real structure that the wider world can buy into? Perhaps. France, Germany, and the United Kingdom have launched a barter-based system to trade with US sanctions-hit Iran. Instex, Europe’s Instrument in Support of Trade Exchanges, is the first state-owned trade … Continue reading “​Instex is Europe’s first challenge to a dollar-denominated world order”

Read More

Can the ‘petroyuan’ really spur de-dollarisation?

by Rashmee

Posted on January 21, 2019


  They’re calling it the “petroyuan”. Those are the oil futures contracts denominated in yuan (renminbi), and launched on the Shanghai International Energy Exchange on March 26 for foreigners to directly buy and sell. Not too long ago, John Mathews and Mark Selden wrote in The Asia-Pacific Journal that China’s futures contracts have established themselves … Continue reading “Can the ‘petroyuan’ really spur de-dollarisation?”

Read More

Who fills that hole if US dollar is no longer dominant?

by Rashmee

Posted on September 21, 2018


Everyone has their own theory, some better informed than others. Hardly anyone (except the Russians and Iranians) is betting on cryptocurrency to replace the mighty dollar. Bitcoin’s 10th anniversary could have been a glittering affair, full of promise. But as has been noted by those who follow these things, Bitcoin has not lived up to … Continue reading “Who fills that hole if US dollar is no longer dominant?”

Read More

Could the US dollar lose its mojo? Yes, says the man who predicted 2008 financial crisis

by Rashmee

Posted on September 15, 2018


Consider the scenario recently spelt out by the American billionaire hedge fund manager Ray Dalio, who predicted the 2008 financial crisis. Two years from now, unfunded American pension and health-care obligations will mean the US will “have to sell a lot of Treasury bonds [and] the Federal Reserve at that point will have to print … Continue reading “Could the US dollar lose its mojo? Yes, says the man who predicted 2008 financial crisis”

Read More

Rashmee has lived and worked in several countries in the past decade, including Afghanistan, India, Haiti, Tunisia, the UAE, US and UK