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https://www.ibtimes.com/dollar-could-crumble-warp-speed-economist-stephen-roach-sounds-warning-2999639

Dollar Could Crumble At 'Warp Speed', Economist Stephen Roach Sounds Warning

2020-06-24 03:15:00, Aartie Rau, International Business Times

Content Categorization
/News/Business News
/Business & Industrial
/Law & Government/Government

Word Count:
541

Words/Sentence:
26

Reading Time:
3.61 min

Reading Quality:
Adept

Readability:
13th to 15th

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Stephen Roach, who the CNBC described as one of the world's leading authorities on Asia, made the dire prediction that the U.S. dollar will decline sharply by 35% against other currencies in the near future.

Against this background, especially when compared with other major economies, it seems reasonable to conclude that hyperextended saving and current-account imbalances will finally have actionable consequences for the dollar and/or US interest rates."

These include the U.S. economy's lockdown-induced recession – triggered by the coronavirus pandemic, the disassociation of the U.S. from its trade partners, China's increasing importance in the global economy and high U.S. unemployment figures.

Photo: World Economic Forum /Photo by Natalie Behring Roach is senior fellow at Yale University's Jackson Institute for Global Affairs and a senior lecturer at Yale School of Management.

He said that the yuan could attract more investors in the near future as the country implements a number of reforms to strengthen its economy, shifts the focus from manufacturing to services, and strengthens consumer-led growth.

Keywords
stephen roche, dollar, yuan

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