SPIEF 2019Are We Witnessing a Paradigm Shift in the Global Economic Order?
We had a very efficient monetary system based on the US dollar, on institutions like the IMF, like the WTO, so everything was more or less clear, understandable, and efficient. But we have a built-in contradiction – that this system is based on trust in US dollars, and we have a very huge temptation from the government, from the institutions of the United States to use this system in order to have some internal political goals, economic goals. And now we see this situation. <…> Now it has become not efficient now using US dollar accounts