Gen Z Don’t Want Children
Gen Z’s lack of desire to have children: a shift in social norms The adage “children are our future” has […]
Qantas Reports Profits
The largest airline in Australia, Qantas Airways, reported a record profit for the first six months of the fiscal year. […]
Why the World Should Be Worried About the Dollar’s Dominance
When World War II came to a conclusion in 1945, celebrations broke out all around the world. Since then, the US has developed into a powerhouse, and the value of the US dollar has a significant impact on its global influence. About 60% of the foreign exchange reserves held by central banks throughout the world are invested in assets denominated in dollars, despite continuing predictions that the dollar will weaken. Likewise, the US dollar accounts for over 40% of all global payments while accounting for over 60% and 50%, respectively, of all international debt and loans. Although the US dollar still rules the world’s financial activities, this does not necessarily mean that the rest of the world will benefit. Read More: US Economy May Enter a Recession in the Next Months Although the rest of the world laments the dollar’s dominance, Eswar Prasad, an economist at the Brookings Institution and a professor at Cornell University, points out that there is now no workable substitute. The US dollar is appealing because of things like the size of the US economy, its standing as a reserve currency, and its consistency as an engine of economic growth. Money flows into the US dollar during difficult times because it is regarded as the safest currency to put money in, and the dollar increases when the US economy does quite well in comparison to other nations. These elements finally solidify the dollar’s dominance. Yet, this poses a significant issue for low […]