Veteran investor Jim Rogers foresees the decline of U.S. dollar, highlights role of Chinese yuan
The post Veteran investor Jim Rogers foresees the decline of U.S. dollar, highlights role of Chinese yuan appeared on BitcoinEthereumNews.com. Expert investor Jim Rogers, co-founder of the Quantum Fund alongside George Soros, has reignited the conversation about the end of the U.S. dollar’s dominance. In an interview with Nomad Capitalist, Rogers draws attention to the Chinese yuan as a plausible contender, subject to China’s willingness to ease its currency controls. Additionally, he dismisses the influence of BRICS, considering it more of a concept than a functional economic alliance. The inevitable downfall of the U.S. dollar The U.S. dollar has been the backbone of the global financial system for decades. However, Rogers points out that no currency has maintained its top position for more than 150 years in history. According to Rogers, “The era of the U.S. dollar is coming to an end.” With these words, the veteran investor signals a seismic shift in the world economic order. While he acknowledges owning a significant amount of U.S. dollars, Rogers believes that the currency’s days as the global reserve are numbered. The U.S.’s status as the largest debtor nation in world history further complicates the situation. While other currencies lag, the Chinese yuan appears to be the only likely candidate to dethrone the U.S. dollar. Nevertheless, there’s a catch. Rogers points out that the yuan remains a “blocked currency,” restricted by China’s stringent capital controls. For the yuan to step up, China must first “completely open its currency,” allowing the free buying and selling of the renminbi just like the euro or the U.S. dollar. Rogers emphasizes that China has been gradually lifting these restrictions for the past 20 years but feels the pace has been insufficient. BRICS: A non-starter in Rogers’ view Rogers takes a skeptical stance on the global economic alliance known as BRICS, which comprises Brazil, Russia, India, China, and South Africa. Despite claims of expansion and the recent…
The post Veteran investor Jim Rogers foresees the decline of U.S. dollar, highlights role of Chinese yuan appeared on BitcoinEthereumNews.com.
Expert investor Jim Rogers, co-founder of the Quantum Fund alongside George Soros, has reignited the conversation about the end of the U.S. dollar’s dominance. In an interview with Nomad Capitalist, Rogers draws attention to the Chinese yuan as a plausible contender, subject to China’s willingness to ease its currency controls. Additionally, he dismisses the influence of BRICS, considering it more of a concept than a functional economic alliance. The inevitable downfall of the U.S. dollar The U.S. dollar has been the backbone of the global financial system for decades. However, Rogers points out that no currency has maintained its top position for more than 150 years in history. According to Rogers, “The era of the U.S. dollar is coming to an end.” With these words, the veteran investor signals a seismic shift in the world economic order. While he acknowledges owning a significant amount of U.S. dollars, Rogers believes that the currency’s days as the global reserve are numbered. The U.S.’s status as the largest debtor nation in world history further complicates the situation. While other currencies lag, the Chinese yuan appears to be the only likely candidate to dethrone the U.S. dollar. Nevertheless, there’s a catch. Rogers points out that the yuan remains a “blocked currency,” restricted by China’s stringent capital controls. For the yuan to step up, China must first “completely open its currency,” allowing the free buying and selling of the renminbi just like the euro or the U.S. dollar. Rogers emphasizes that China has been gradually lifting these restrictions for the past 20 years but feels the pace has been insufficient. BRICS: A non-starter in Rogers’ view Rogers takes a skeptical stance on the global economic alliance known as BRICS, which comprises Brazil, Russia, India, China, and South Africa. Despite claims of expansion and the recent…
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