Here’s Who Really Benefits From The Dominance Of The U.S. Dollar
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 28 May 2020
⏱️ 42 minutes
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Summary
When people talk about the dominance of the U.S. dollar in global commerce, they often refer to it as a unique privilege of the United States that its currency is the world’s safe haven. But it’s not so clear who really benefits from the unique role played by the greenback. For one thing, there are wide swathes of U.S. workers whose industries are hurt by its strength. On this episode, we speak with Yakov Feygin, the Assistant Director of the Future of Capitalism project at the Berggruen Institute about the global winners and losers of the dollar system.
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| 0:00.0 | Join us in New York on November 29th for the Bloomberg Canadian Finance Conference, |
| 0:04.6 | proudly sponsored by National Bank of Canada Financial Markets. |
| 0:07.8 | 2023 marks the 11 year anniversary of our Canada focused event and continues the tradition of providing timely |
| 0:13.8 | insights and actionable strategies. We'll have senior government |
| 0:17.1 | officials from Saskatchewan, Quebec, British Columbia, Alberta and Ontario as well |
| 0:21.9 | as speakers from Northland Power, World Bank, Transolta, and many more. |
| 0:26.0 | Register at Bloomberg Live.com slash Canadian Finance slash radio. Hello and welcome to another episode of the Adlots Podcast I'm |
| 0:45.0 | I'm Tracy Allaway. |
| 0:48.0 | So Tracy I have to say that throughout this whole crisis there has been sort of one genre of |
| 0:54.6 | article or one genre of discussion that I've never really been comfortable with and |
| 1:00.0 | that is people making really big picture forecasts or statements about sort of the future of the world I guess. |
| 1:08.0 | Yeah, I get what you mean. It feels like a little bit early to be jumping to discussing the second order effects, right? |
| 1:15.6 | Like there's so much to talk about right now as these things are actually unfolding. |
| 1:20.4 | Yeah, exactly. |
| 1:21.4 | And what, of course, one of the big questions that's out there and that everyone wants to have a view on and I'm guilty of it too and I've written about it and I've talked about it is what happens with sort of globalization, what happened with the future of the dollar and the US is a preeminent |
| 1:38.0 | role in the global financial system we sort of talked about it a little bit with Adam Tews, we talked about it with other |
| 1:46.0 | with other people as well and it's of course incredibly intriguing to discuss but we |
| 1:52.1 | still we just don't know anything. |
| 1:54.0 | Yeah I think that's true and it definitely falls into one of those sort of big |
| 1:58.6 | picture things that people are are talking about at the moment and it's something that we've sort of |
| 2:05.2 | discussed on various episodes before right dollar dominance has definitely |
| 2:09.7 | been a theme for the past year or so on our show. |
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