• China
    • Beijing
    • Shanghai
    • Guangzhou
    • Wuhan
    • Chengdu
    • Chongqing
    • Tianjin
    • Taiwan
    • Hong Kong
    • Macau
    • Belt and Road
    • Greater Bay Area
  • NE Asia
    • Japan
    • South Korea
    • North Korea
  • SE Asia
    • Brunei
    • Cambodia
    • Indonesia
    • Laos
    • Malaysia
    • Myanmar
    • Philippines
    • Singapore
    • Thailand
    • Timor Leste
    • Vietnam
  • South Asia
    • India
    • Pakistan
    • Bangladesh
    • Afghanistan
    • Nepal
    • Sri Lanka
    • Bhutan
    • Maldives
  • Middle East
    • Bahrain
    • Cyprus
    • Egypt
    • Iran
    • Iraq
    • Israel
    • Jordan
    • Kuwait
    • United Arab Emirates
    • Oman
    • Palestine
    • Qatar
    • Saudi Arabia
    • Syria
    • Turkey
    • Lebanon
    • Yemen
    • اللغة العربية
  • World
    • Australia
    • United States
    • Canada
    • Mexico
    • European Union
    • United Kingdom
    • France
    • Germany
    • New Zealand
    • Spain
    • Italy
    • Sweden
    • Brazil
    • Russia
  • Opinion
    • China
    • Business
    • Hong Kong
    • India
    • Donald Trump
    • Philippines
    • Southeast Asia
    • Podcast
    • Politics
  • Newsletters
  • Membership
    • Subscribe
    • My account
    • Asia Times store
    • Lost password
    • FAQ
    • AT+ Content Archive
    • AT+ Commentary Archive
  • ATimesCN
  • Facebook
  • Twitter
  • LinkedIn
  • RSS
Skip to content

Asia Times

Covering geo-political news and current affairs across Asia

Tag: current-account

Perfect storm sinking the almighty dollar

by William Pesek July 27, 2020July 31, 2020

The “dollar-is-crashing” trade is the ultimate widow-maker. For decades, it’s confounded more punters than bets against Chinese stocks, Japanese debt and Hong Kong property combined.

Yet might it soon pay off, finally, thanks to Donald Trump’s blunderbuss of a White House? The odds don’t favor it, at least for now.

Neither Trump pushing US debt past the US$25 trillion mark nor his trade war nor his disastrous response to the coronavirus has tanked the reserve currency. The reason, of course, is a dearth of trusted alternatives.

Yet the famous, or infamous, observation by Nixon-era US Treasury Secretary John Connolly that the “dollar is our currency, but it’s your problem” is truer in the Covid-19 era than it was in 1971.

To continue reading, please log in to your AT+ Premium account. Not yet a member? Please signup for AT+ Premium monthly membership, AT+ Premium yearly membership, Chinese New Year Special: $48 for one-year subscription to AT+ Premium or AT+ Premium Access membership.

Top trending stories

  • How Pakistan lost $6 billion on a gold mine
  • America on a new fast track to fusion energy
  • Get real about the Chinese semiconductor industry
  • Race is on to commercialize fusion energy
  • Biden's CIA director signals a shift to the left
  • It's no secret, Germany's Type 212 sub has cool, new tech
  • Is a US-China war a real possibility?
  • Brazil's Bolsonaro backtracks on Huawei 5G stance
  • China at the heart of rising Nile River conflict
  • Asia's deadliest Covid country to resist vaccination


Military & Security

  • It’s no secret, Germany’s Type 212 sub has cool, new tech January 18, 2021
  • Local hero: Chef Andrés steps up to feed an army in DC January 18, 2021
  • Pyongyang unveils sub-launched missile at parade January 15, 2021
  • China calculation: More Rafale fighters bound for Ladakh January 15, 2021
  • Hefty jail terms await some Capitol rioters: experts January 13, 2021
  • Generals blast Capitol attack; US confronts threat January 13, 2021
  • With China, Russia rapidly arming, clock is ticking on US Navy January 12, 2021

The Chain

  • Huobi Korea users face tighter scrutiny January 18, 2021
  • China’s blockchain network eyes global CBDCs January 15, 2021
  • Pakistani province turns to bitcoin January 14, 2021
  • ECB chief calls for global bitcoin rules January 13, 2021
  • Fidelity pours more capital into HK crypto firm January 13, 2021
  • Digital euro could happen ‘within five years’: ECB chief January 13, 2021
  • Bitcoin is maturing as an asset: Goldman Sachs January 13, 2021
  • About Us
  • Contact Us
  • Advertise with us
  • Write for us
  • Terms of Service
  • Privacy Policy
© 2021 Asia Times. Proudly powered by Newspack by Automattic Privacy Policy
  • Facebook
  • Twitter
  • LinkedIn
  • RSS

This Site Uses Cookies

This site, like many others, uses small files called cookies to help us improve and customize your experience. Learn more about how we use cookies in our cookie policy.

Learn more about cookies