A reading of a piece by a Yale professor and former head of Morgan Stanley Asia arguing the U.S. dollar’s status is changing rapidly.
On this episode of The Breakdown: Long Reads Sunday, we look at Professor Stephen S. Roach’s piece “The COVID Shock to the Dollar.”
In it, he argues:
- Americans have been squandering their savings potential
- Because of this, we are forced to borrow surplus savings from abroad
- We have usually been able to do this on favorable terms
- That window may be coming to a close
- There could be a 35% drop in the dollar over the next two to three years
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