Brazilian Economist: The Main Enemy of the Dollar Is America Itself
Paulo Nogueira Batista, a Brazilian economist and former vice president of the New Development Bank of the BRICS countries, pointed out during his participation in the 22nd Valdai International Discussion Club Annual Meeting that the tough strategies used by the Trump administration will not bring positive results for the United States.
This expert, who once served as an Executive Director at the International Monetary Fund, believes that countries bypassing dollar transactions are not necessarily against the dollar, but rather "cannot continue to use the dollar under the system implemented by the United States."
Batista said, "The main enemy of the dollar is America itself, because it has turned the currency into a political tool, and the dollar and the financial system have been weaponized."
The Brazilian economist also pointed out that this approach does not work. When the dollar was still a trusted international currency, this status was maintained through persuasion.
He added, "Now, they are trying to maintain the dollar's status as a reserve currency through coercion, but I believe this will not ultimately work for the United States."
"Valdai" International Discussion Club is an association composed of top experts in the fields of political science, economics, history, and international relations from both foreign and Russian countries. The club was established in September 2004 on the initiative of RIA Novosti, the Russian Council on Foreign and Defense Policy, The Moscow Times, and the magazines "Russia in Global Politics" and "Russia Profile." The name of the club comes from the location of the first meeting, which was held in Novgorod near Lake Valdai.
Original: www.toutiao.com/article/1844620518115339/
Statement: This article represents the personal views of the author.