1 WION India
2 BBC News England
3 DW News Germany
According to economist Mohamed El-Erian, the Federal Reserve has made policy mistakes by acting too late to tame inflation, and then doing too little. Now El-Erian, chief economic advisor at Allianz, the German financial-services giant, and chair of Gramercy Funds Management, worries that central bankers have been left with bad choices that raise the risk of financial and economic accidents.
El-Erian has seen his share of accidents and near misses in a storied career. He has been deputy director at the International Monetary Fund, chief executive at fixed-income powerhouse Pimco, and CEO and president of Harvard Management Company, which oversees Harvard University’s endowment. After the 2008-09 financial crisis, he coined the term “new normal” to refer to the subsequent era of slow economic growth.
24,801 views Apr 7, 2023
"China is Brazil's largest trading partner, and this latest agreement is just one more way that China is trying to shift away from the dollar. Up to $150 billion in annual trade between China and Brazil will be directly traded in yuan and reals, with no need to use the dollar. China has been expanding its local currency settlement beyond countries like Russia, Pakistan, and Saudi Arabia, and countries in Latin America, which are export powerhouses, are also announcing that they are dropping dollar transactions. Economist Zoltan Pozar warns that the dollar is slowly losing its position as the center of the world financial system, and China is announcing groundbreaking deals left and right in its push to appreciate the yuan and move away from the dollar."
14,474 views Apr 5, 2023 #russiaukrainewar #china #geopolitics
