Economist Stephen Roach issued a new warning about the collapse of the dollar. Roach, a faculty member at Yale University, said that the coming year will be tough on the dollar, and according to the expert, according to Russia published today, his “seemingly crazy idea” that the dollar will collapse should not appear Also, pointing to the existence of data indicating this, he said that “the current account deficit in the United States, which is the largest measure of international imbalance with the rest of the world, suffered from a record deterioration in the second quarter. The so-called net national savings rate, which is a sum of savings) Individuals, companies and the government sector, a record drop in the second quarter, returning to negative territory for the first time since the global financial crisis. “
In June, the economist predicted a collapse of the US dollar in the next year or two, but now he believes that it will happen by the end of 2021.
Roach, the former head of the investment bank, Morgan Stanley Asia, also predicted the possibility of a double economic recession in the United States above 50% this year, and said: “As we approach the flu season and the high rates of new infections and the rise in deaths, the risk of a (economic) shock The United States) is not something that you can ignore. “It appears from the Bloomberg website that the dollar index, which measures the value of the US currency against a basket of major currencies, was at the beginning of the current world at the level of 97 points, but now the index is 94 points.
Meanwhile, International Monetary Fund spokesman Jerry Rice said on Thursday that the global economic outlook is not quite as bleak as it was expected last June.
He pointed out that economic data came better than expected from China and other developed economies, and Rice said that the situation is still “unstable” in many developing countries and emerging markets other than China, pointing out that the IMF is also concerned about the growing levels of debt. Previously, the Organization for Economic Cooperation and Development said that the global GDP will lose 7 trillion dollars by the end of 2021 due to the Corona crisis, describing this as a “great shock.”
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