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21st January 2015

2015: Globale Konflikte und Entwicklungen

This Editorial by Prof. Galtung is available in english only.


One thought on “2015: Globale Konflikte und Entwicklungen”

  1. Shawn Kemp sagt:

    A MULTIPOLAR ECONOMIC WORLD ORDER IS EMERGING:

    Source 1:

    The Dollar is the current dominant World-Currency. But not for long anymore.

    After WWII, the U.S was the only industrial economy standing. Only the U.S had deep and liquid financial markets.

    In 2011, despite the fact that only 29% of the global economy,

    (1) The Dollar is used in 85% of worldwide foreign exchange transactions.
    (2) The Dollar accounts for 61% of the identified foreign exchange reserves of the central banks and governments on this planet.

    > This allows U.S companies to do business globally in their own currency! Global trade is handled in Dollars. No losses incurred for interstate trade. The notion that importers, exporters and bond underwriters want to hold on to the same unit of exchange is old now. It is no longer the case, that there is only room for one economic standard: International finance will see a multiplication of global currencies. This change is clear – the multipolar & multicentric economic system is consolidating since the end of the first decade. What new currencies are we talking about? The Dollar, The Euro and the Chinese Renminbi. The Eurozone is in Crisis. There is discussion of reintroducing the older currencies in Greece, in Germany and debt defaults by Ireland or Greece have been on the table. Foreigners own a majority of U.S Treasuries-Securities. If the U.S does not control its fiscal system through a normalization of interest rates, these foreign owners might dump the Dollar. This might spell the end of the Dollar as an international currency. Interest Rates will have to be normalized or else, deals such as the recent deal between China and the Russia might push aside the Dollar’s dominant position.

    Source 2:

    The Special Drawing Rights may emerge as the worlds new Reserve Currency.
    Reference

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