Does COVID-19 Have the World Rethinking Dollar Supremacy?

A reading of a piece by a Yale professor and former head of Morgan Stanley Asia arguing the dollar’s status is changing rapidly.

By Nathaniel Whittemore

Jul 12, 2020 at 4:00 p.m. UTC

Updated Sep 14, 2021 at 9:29 a.m. UTC

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Nathaniel Whittemore

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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.

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This episode is sponsored by Bitstamp and Crypto.com.

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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Nathaniel Whittemore

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Nathaniel Whittemore