Although the U.S. is home to just 4.25% of the world’s population, the dollar makes up over 60% of the world’s global foreign exchange reserves, and in the world’s foreign exchange markets, around 90% involves the dollar.
Yet despite concerns that the U.S. has trillions of dollars in foreign debt and continues large deficit spending, the greenback still holds trust and confidence in its ability to pay its obligations, much to the consternation of rival nations, and to the bewilderment of those who predict the dollar’s demise.
Bearing in mind that ever since the U.S. abandoned the Bretton Woods system, where a dollar was backed by its equivalent in gold, the economic anchor by which a dollar’s value was measured has long been untethered.
Meanwhile in foreign policy, Biden and his colleagues seem committed to maintain a Cold War stance against China, undermining the enduring credibility of the U.S. dollar as the preeminent global reserve currency and undermining the value of U.S.
He read law at the National University of Singapore and graduated with Honors in the Upper Division and joined one of Singapore’s top law firms, Allen & Gledhill where he was called to the Singapore Bar as an Advocate & Solicitor in 2005.
BBN Times provides its readers human expertise to find trusted answers by providing a platform and a voice to anyone willing to know more about the latest trends. Experts in their fields, worth listening to, are the ones who write our articles. We believe these are the real commentators of the future.