Edward Hadas is Economics Editor at Reuters Breakingviews. He joined Breakingviews in both 2004 and 2011, with a year in between at the Financial Times as Assistant Editor of the Lex column. Before becoming a journalist, he worked for 23 years as an equity analyst in Europe and the US. He has wri...
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Why the Big Next Financial Crisis Could Come In Forex By Edward HadasLONDON (Reuters Breakingviews) - For centuries, cross-border trade has come with a currency problem. The expansion of globalisation haRead Full Article »
Foreigners are happy to hold U.S. dollars, but a swelling supply of currency brings risks of a disastrous loss of confidence. With overseas greenbacks at 11 pct of world GDP and global politics fractious, the dilemma identified by Robert Triffin in 1960 remains all too pertinent. This content is for Subscribers only To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.
the net U.S. international investment position – basically the market value of dollars invested from America minus the value of dollars lent to it – first turned negative in 1988. After some gyrations, a firm trend has set in. By 2016, the deficit had reached around 11 percent of global GDP. That is an awful lot of dollar value at risk. But the development is not surprising. Cross-border trade has increased from 17 percent of world GDP in 1960 to 45 percent today, according to the World Bank.