The dollar and its discontents :: Mmegi Online

Having unilaterally reimposed sanctions on Iran, US President Donald Trumps administration is threatening to penalise companies doing business with the Islamic Republic by denying them access to US banks. But that could hasten the dollars demise as the main global currency, BARRY EICHENGREEN* writes

BRUSSELS: US President Donald Trump’s unilateralism is reshaping the world in profound and irreversible ways. He is undermining the working of multilateral institutions. Other countries, for their part, no longer regard the United States as a reliable alliance partner and feel impelled to develop their own geopolitical capabilities.

Now the Trump administration is eroding the dollar’s global role. Having unilaterally reimposed sanctions on Iran, it is threatening to penalise companies doing business with the Islamic Republic by denying them access to US banks.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Explore

More

The dollar and its discontents

Having unilaterally reimposed sanctions on Iran, US President Donald Trumps administration is threatening to penalise companies doing business with the Islamic Republic by denying them access to US banks. But that could hasten the dollars demise as the main global currency, BARRY EICHENGREEN* writes

Consumers brace for April shocks in fuel, electricity

Angola offers Botswana 30% in refinery project

BURS estimates VAT gap at 40%

Tsheko emerges as Jaguars talisman

Branch holds ground in Portugal as W2RC fight tightens

Hours before event, National Stadium awaits accreditation

Zebras ready to rumble in Mukuru 4 Nations battle

Dinare on the charge, Warders on alert in title race battle

Use social media to build, not destro