You are now listening to Macrodotes.

Macrodoze.

Hello and welcome to Macrodose, a podcast hosted by me, James Medway, that brings you your weekly

fix of everything economics and a quick 15-minute roundup.

Each Wednesday morning, we bring you the key stories making the news and the analysis you

need to make sense of them. On today's episode, we'll you the key stories making the news and the analysis you need to make sense of them.

On today's episode, we'll be taking a look at, first, two bits of news that show how the world economy is being reshaped in front of us.

Second, an account of how the ear of the United States economic hegemony might be coming to an end.

And finally, one of the world's

leading economists has some big demands on tackling wealth inequality. Two pieces of news in the

last week pointed to some deep fundamental shifts in how the global economy is organized. First,

Saudi Arabia let it be known that it was open to selling oil in a currency other than

dollars. As the world's largest crude oil exporter, and until recently, a linchpin of US

strategy in the Middle East, this is big news. It would mean the world's first and second largest

oil exporters, Saudi and Russia, would no longer be looking to trade that oil solely in dollars.

This news comes on top of a recent trend which has seen Saudi developing increasingly close ties

of China, where demand for oil is continuing to rise with economic growth. Global oil demand

in general is expected to reach an all-time high this year, as China reopens in particular.

Second, there was the announcement by Brazil and Argentina that they, too, would be looking

to set up a new currency for trade, perhaps be called de Ser. There have been moves like this

before by the two countries, but they have tended to flounder on political grounds, with

strong opposition from both countries, central banks. Now, with left-leaning

...