అమెరికాకు మరలుతున్న డాలర్లు, IMF అప్పుకై 102 దేశాలు|| 102 Countries Go To IMF As Dollars Flee To US
There is an exodus of finance from the Third World at present, far exceeding in scale what had occurred in 2008 after the financial crisis. Even more important than the actual outflow is the desire on the part of finance to pull out of the Third World, including even the so-called “emerging markets”, and move to US dollars or dollar-denominated assets. This is resulting in a depreciation of a host of Third World currencies vis-à-vis the dollar, of which the Indian rupee is an obvious example.
This paradox points to a deeper reality about the world economy: whenever finance is jittery, its “homing instinct” takes it away from the Third World, to the US in particular. There is in short a fundamental asymmetry in the world economy from the point of view of finance, which incidentally is why, for the Third World to open itself to the vortex of global financial flows, is so utterly unwise.
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అమెరికాకు మరలుతున్న డాలర్లు, IMF అప్పుకై 102 దేశాలు|| 102 Countries Go To IMF As Dollars Flee To US There is an exodus of finance from the Third World at present, far exceeding in scale what had occurred in 2008 after the financial crisis. Even more important than the actual outflow is the desire on the part of finance to pull out of the Third World, including even the so-called “emerging markets”, and move to US dollars or dollar-denominated assets. This is resulting in a depreciation of a host of Third World currencies vis-à-vis the dollar, of which the Indian rupee is an obvious example. This paradox points to a deeper reality about the world economy: whenever finance is jittery, its “homing instinct” takes it away from the Third World, to the US in particular. There is in short a fundamental asymmetry in the world economy from the point of view of finance, which incidentally is why, for the Third World to open itself to the vortex of global financial flows, is so utterly unwise.