Nouriel 'Dr. Doom' Roubini Warns About Demise of US Dollar – Economics Bitcoin News

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Nouriel Roubini, called 'Dr. Doom' by some due to his pessimistic predictions, alerted readers about the substitution of the U.S. dollar by the Chinese renminbi in the next decade.

Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world. Roubini believes that the Chinese renminbi might be a substitute for the dollar, as new technologies like central bank digital currencies and corporate payment rails contribute to a new landscape.

Roubini mentions the increasing set of restrictions that the U.S. government exerts over the use of the dollar on its rivals, including primary and secondary financial sanctions, as possible reasons for the emergence of this bipolar system in the next decade.Roubini also argues that the pseudo-adoption of the dollar by economies in less developed countries brings disadvantages derived from the domestic management of the monetary policy.

Source: Digital Coin News (digitalcoinnews.net)

 

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