Economist Michael Hudson responds to the misleading arguments against de-dollarization that New York Times columnist Paul Krugman made in his attempt to defend US hegemony and the dollar system.
From Africa to Southeast Asia and Latin America, from Russia and China to India, Iran and Saudi Arabia, countries are mapping their course for a flight from the US dollar.
On his first day in the country, the president also visited Huawei and had meetings with executives from other companies.
In response to Western sanctions, Russia’s central bank is dropping the US dollar and will buy Chinese yuan on the foreign exchange market. The yuan’s share of Moscow’s currency trading…
The dollar system has proven resilient in the face of recent extreme and unexpected shocks, but it has also failed to foster sustainable growth and prosperity. Can it survive its…
Brazil’s left-wing leader Lula da Silva says if he wins the 2022 presidential elections, “we are going to create a currency in Latin America,” called the Sur (“South”), to combat…
