deglobalization photos on Flickr

The book is finally out and available by Bruce Sterling

5 1

*Just in time for right-wing deglobalization to bust out all over the place.

The Davos Agenda by World Economic Forum

Preparing for Deglobalization

Simon Evenett, Professor of International Trade and Economic Development, University of St. Gallen, Switzerland

Beata Javorcik, Chief Economist, European Bank for Reconstruction and Development (EBRD), London

Richard L. Trumka, President, American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), USA

Moderated by Gerard Baker, Editor-at-Large, Wall Street Journal, USA

The Davos Agenda by World Economic Forum

Preparing for Deglobalization

Simon Evenett, Professor of International Trade and Economic Development, University of St. Gallen, Switzerland

Beata Javorcik, Chief Economist, European Bank for Reconstruction and Development (EBRD), London

Richard L. Trumka, President, American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), USA

Moderated by Gerard Baker, Editor-at-Large, Wall Street Journal, USA

The Davos Agenda by World Economic Forum

Preparing for Deglobalization

Simon Evenett, Professor of International Trade and Economic Development, University of St. Gallen, Switzerland

Beata Javorcik, Chief Economist, European Bank for Reconstruction and Development (EBRD), London

Richard L. Trumka, President, American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), USA

Moderated by Gerard Baker, Editor-at-Large, Wall Street Journal, USA

DSC_6423 by Guy M Wong

www.scmp.com/comment/opinion/united-states/article/319723...

US chip ban: America must beware of backing China into a corner

The more the US races to choke off China’s access to semiconductors, the greater the risks of alienating allies and forcing Beijing – the world’s biggest chip customer and supplier of critical rare earths – to retaliate

The Chips and Science Act, a bipartisan bill signed into law in August, was hailed as a “Sputnik moment” for America and a turning point in the global semiconductor race. Injecting billions of dollars into the domestic chip industry, it seemed to mark a new chapter of “running faster” than China, instead of “slowing it down”. But Washington’s recent actions tell a different story: the Biden administration is not only still focused on crippling China’s chip-making abilities, but also taking unprecedented measures to do so. Its most recent move – a sweeping set of export controls – includes measures to cut China off from certain semiconductor chips made anywhere in the world with US tools. While drastic, it is just the latest in a growing cascade of restrictions that have attempted to thwart China’s access to chipmaking equipment, electronic design automation (EDA) software, and chips themselves. Whether these moves were prompted by concerns over national security or a desire to stay ahead of China in the semiconductor space, the consensus in Washington seems to be that the United States needs to continue down the path of ever-increasing restrictions.

While this strategy is effective in the short and medium term, it poses inherent trade-offs in the long run: the more it races to choke off China’s semiconductor sector, the more difficult it will be for the US to get its allies on board, diminishing the effectiveness of any unilateral policy, and making it likelier that China retaliates.

For its export controls to be effective, the US needs to ensure its allies are on board. In 2020, for example, Trump added Semiconductor Manufacturing International Corp (SMIC), China’s largest chip maker, to the so-called entity list, cutting it off from the American technology it needed to make its products. But tools kept flowing to the Chinese firm, because foreign companies started to fill the hole left by Americans.

Chinese orders for chip-manufacturing equipment from overseas suppliers rose by 58 per cent to US$29.6 billion last year, making it the biggest market for those products for a second year running, representing 28.8 per cent of global total sales. In particular, SMIC’s purchases from Dutch semiconductor equipment giant ASML grew from US$1.2 billion in 2020 to US$1.5 billion last year, as purchases from its other top suppliers, mostly American, fell.

Unilateral restrictions also threaten to weaken American companies. American semiconductor companies have argued that export controls like the SMIC ban slash their revenues, adversely affecting research and development. The US semiconductor industry invests, on average, 18 per cent of its revenue into R&D, among the highest amounts of any sector. Cutting off access to certain global markets hampers the ability of semiconductor companies to continue funding research, harming US technology leadership. But getting America’s allies to impose the same export controls on their toolmakers is not easy. In interviews regarding the latest chip restrictions, senior government officials have conceded that they had not yet secured any promises that allied nations would implement similar measures. This isn’t surprising, or new.

The US has pushed the Netherlands to ban certain ASML equipment from going to China, but the Dutch government has yet to agree to the restrictions. For one, ASML stands to lose billions in revenue. Furthermore, US lobbying against ASML has already strained Sino-Dutch relations, with the former Chinese ambassador to the Netherlands telling a Dutch newspaper in 2020 that trade relations would be damaged if ASML was prevented from shipping its advanced machines to China.

In the short term, the US could use brute force to secure the cooperation of allies, especially through its latest broadening of the foreign direct product rule. The rule has been used successfully to cripple Huawei Technologies’ chip development, but if Washington continues to strong-arm foreign companies that use American chipmaking equipment, chip makers could seek to limit US technology in their supply chains to skirt expansive controls in the long run. Expansive controls also risk Chinese retaliation. Beijing has largely refrained from responding to American measures, focusing on promoting its chip development, but there are a host of levers it could employ to hurt American businesses and interests.

For one, Chinese producers dominate the extraction and refining of rare earth materials that all semiconductors rely on. While rare earths can be mined in many countries, China controls the refinement and purification processes, allowing it to indirectly influence prices and deny access of supplies to targeted supply chains.

Another way China could hit back at US sanctions is by leveraging its large and growing market. Boston Consulting Group has reported China’s end-use consumption of chips at 23 per cent of global sales, roughly equivalent to that of the US. By withholding access to key players such as Xiaomi, Lenovo or Oppo, China could affect the growth and competitiveness of virtually all semiconductor companies. China is unlikely to take drastic measures to hurt American companies in the short term, since it still needs foreign technology and foreign investment to reach its goal of self-sufficiency in the semiconductor space. But if it senses that it has nothing to lose, it is not unthinkable that China would strike back. The US needs to keep these considerations in mind as it continues issuing the increasingly extensive bans that seem to have become the playbook in Washington. As the scope and severity of restrictions ramp up, so will the difficulty of coordinating with allies and avoiding serious Chinese backlash. This trade-off requires lawmakers to critically assess how far they are willing and able to go to hold China back.

Marianne Lu is an undergraduate studying international relations at Stanford University

www.bloomberg.com/opinion/articles/2022-10-28/chips-act-w...

Chips Act Won’t Work Without Every Part of the Chip

It doesn’t make sense for the US to invest billions of dollars to support the manufacturing of semiconductors if they have to be shipped to Asia to be completed.

The US was awakened by the pandemic to the gaping holes in its supply chains for crucial medical supplies and electronics. One of the most significant was semiconductors, the pieces of silicon that hold millions of tiny transistors that are needed in everything from automobiles to toys.

The Chips and Science Act devotes $52 billion to begin to remedy a decades-long trend of US production drifting away to lower cost regions, mostly to Asia and especially to China. The rebuilding of that supply chain and manufacturing capacity will take years, but it will come to naught unless all the components, even the low-margin ones, have a presence in the Americas, if not the US.

The production of semiconductors is arguably the most globalized industry, and the small size and higher value of chips make them ideal for ferrying around the globe by aircraft. The ability to move materials and components at a negligible cost and time of transport made them an early candidate for moving manufacturing overseas.

The combination of this mobility and the push of US chipmakers to improve profit margins resulted over the decades in the industry being broken down into several distinct activities, with specialized manufacturers at each stage. US companies have kept the research and design, which is the most lucrative part of the business. Although there are some integrated chipmakers, most of the manufacturing has migrated overseas: the raw materials; silicone substrates on which the chips are built; the wafers on which chips are engraved; and a final production process than encases and tests the chips.

Like any chain, the one that produces semiconductors is only as strong as its weakest link. It doesn’t make any sense for the US government to invest billions of dollars to support the manufacturing of chips if they need to be shipped to Asia anyway to be completed. Each stage of production should be readily available to make it much easier to ramp up if supplies were disrupted instead of having to start from scratch.

Farming out the lower-margin businesses made sense at the time. Stand-alone chip designers have gross margins of 60%, while companies that assemble the chips and test them manage gross margins of only 17%, according to Bloomberg Intelligence. The US dominates chip design with 68% of the global market but has only 3% of the outsourced semiconductor assembly and testing. The US market share is even lower for production of the integrated chip substrates.

This strategy, though, left the industry dependent on Asia, which has built up the supply chain to become a one-stop, low-cost area to manufacture computer chips. The products that require the chips, such as laptop computers and television, are also mostly made in Asia because the US ceded manufacturing to others.

The Chips Act has made headlines for enticing new so-called fabs, the factories that jam millions of transistors onto silicon wafers. Companies including Intel Corp., Samsung Electronics Co. and Micron Technology Inc. are among the companies planning large investments. It’s unclear how much of the other separate processes of the chipmaking chain will remain abroad. It’s even more unclear how the government plans to entice these low-margin activities to locate in the US.

Amkor Technology Inc. is an outsourced assembly and test company based in Tempe, Arizona. The company, though, doesn’t have any factory operations in the US. Its factories are in China, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Japan and Portugal. It’s building a plant in Vietnam that will be up and running next year. Amkor, which completes the semiconductor assembly process so the chips can be used by makers of electronics, vehicles and consumer goods, has no manufacturing operations in the Americas. This isn’t only about wages — Japan and Portugal aren’t low-wage countries. Chip assembly and testing is already highly automated manufacturing.

There is an argument that the US just can’t produce these components or perform these processes competitively. Labor costs are just too high, which means production here would only add to inflation or require perpetual subsidies. If this is the case, what’s the purpose of the Chips Act? It’s imperative for the US to have redundant sources of supplies on critical products. The pandemic and now China’s more aggressive stance on the world stage has made that clear.

The promises of China bending more toward a free-market economy and open society after the world’s most populated country was admitted to the World Trade Organization in 2001 are now broken.

“We are deglobalizing. There’s no going back on this,” Mark Zandi, chief economist of Moody’s Analytics Inc., said in an interview with Bloomberg TV last week. “Xi is moving in a different direction. US is moving in another direction. We are pulling apart.”

The US will have to lean on automation to have cost-competitive manufacturing. In those areas where it’s more difficult to replace low-cost labor with automation, Mexico, Brazil, Costa Rica and other partners can help fill that gap. The bottom line is that if the Chips Act doesn’t bring back the whole chain — even the less lucrative parts — it will fail to achieve its goal.

The Davos Agenda by World Economic Forum

Preparing for Deglobalization

Simon Evenett, Professor of International Trade and Economic Development, University of St. Gallen, Switzerland

Beata Javorcik, Chief Economist, European Bank for Reconstruction and Development (EBRD), London

Richard L. Trumka, President, American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), USA

Moderated by Gerard Baker, Editor-at-Large, Wall Street Journal, USA

The Davos Agenda by World Economic Forum

Preparing for Deglobalization

Simon Evenett, Professor of International Trade and Economic Development, University of St. Gallen, Switzerland

Beata Javorcik, Chief Economist, European Bank for Reconstruction and Development (EBRD), London

Richard L. Trumka, President, American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), USA

Moderated by Gerard Baker, Editor-at-Large, Wall Street Journal, USA

The Davos Agenda by World Economic Forum

Preparing for Deglobalization

Simon Evenett, Professor of International Trade and Economic Development, University of St. Gallen, Switzerland

Beata Javorcik, Chief Economist, European Bank for Reconstruction and Development (EBRD), London

Richard L. Trumka, President, American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), USA

Moderated by Gerard Baker, Editor-at-Large, Wall Street Journal, USA

56th ADB Annual Meeting: Media Briefing: Deglobalization, its Impact on Trade and Food Security, and the Challenges of Climate Financing in Agribusiness by Asian Development Bank

4 May 2023 - during the 56th Annual Meeting in Incheon, the Department of Communications (DOC) hosted a media briefing on deglobalization, its Impact on Trade and Food Security, and the Challenges of Climate Financing in Agribusiness. Speaker included Steven Beck, Head of Trade and Supply Chain Finance Program, and Martin Lemoine, Head of Food and Agribusiness Investment.

The event was held on the sidelines of the 56th Annual Meeting of the ADB Board of Governors.

56th ADB Annual Meeting: Media Briefing: Deglobalization, its Impact on Trade and Food Security, and the Challenges of Climate Financing in Agribusiness by Asian Development Bank

4 May 2023 - during the 56th Annual Meeting in Incheon, the Department of Communications (DOC) hosted a media briefing on deglobalization, its Impact on Trade and Food Security, and the Challenges of Climate Financing in Agribusiness. Speaker included Steven Beck, Head of Trade and Supply Chain Finance Program, and Martin Lemoine, Head of Food and Agribusiness Investment.

The event was held on the sidelines of the 56th Annual Meeting of the ADB Board of Governors.

56th ADB Annual Meeting: Media Briefing: Deglobalization, its Impact on Trade and Food Security, and the Challenges of Climate Financing in Agribusiness by Asian Development Bank

4 May 2023 - during the 56th Annual Meeting in Incheon, the Department of Communications (DOC) hosted a media briefing on deglobalization, its Impact on Trade and Food Security, and the Challenges of Climate Financing in Agribusiness. Speaker included Steven Beck, Head of Trade and Supply Chain Finance Program, and Martin Lemoine, Head of Food and Agribusiness Investment.

The event was held on the sidelines of the 56th Annual Meeting of the ADB Board of Governors.

56th ADB Annual Meeting: Media Briefing: Deglobalization, its Impact on Trade and Food Security, and the Challenges of Climate Financing in Agribusiness by Asian Development Bank

4 May 2023 - during the 56th Annual Meeting in Incheon, the Department of Communications (DOC) hosted a media briefing on deglobalization, its Impact on Trade and Food Security, and the Challenges of Climate Financing in Agribusiness. Speaker included Steven Beck, Head of Trade and Supply Chain Finance Program, and Martin Lemoine, Head of Food and Agribusiness Investment.

The event was held on the sidelines of the 56th Annual Meeting of the ADB Board of Governors.

"Your next success will come when you are ready to challenge your most successful assumptions!" - Futurist Jim Carroll by Jim Carroll

Globalization as we know it is over -and with that, one of the most basic assumptions which drove the post-World War 2 economy has come to an end. That's why trend #16 of my "23 Trends for 2023" is The Great Decoupling - what happens as the assumptions behind the success of globalization are challenged, and a reorganization of the global economy occurs.

You see the impact of broken globalization all around you - stuff costs more, it's harder to get, is in shorter supply, and has long lead times. Obviously, something is broken, and something needs to be rebuilt - that's the great decoupling. Right now, companies, executives, and individuals are challenging many of the fundamental assumptions that have defined their success in the past by rethinking how to rebuild their operations in the face of new global realities.

Think about it - for a long time, the global economy was based on the assumption that we would see the continued integration of economies worldwide, accelerating deregulation, low-cost financing, geopolitical calm, logical and rational political leaders, and stable economic assumptions. But that integration, driven by easy money and cheap capital, has come to an end for a time. What drives the future now is whiplash political uncertainty driven by populist political agendas, high labor costs driven by skills shortages, supply chain challenges, relentless inflation, higher interest rates, the Russian invasion of Ukraine, and turmoil in energy markets.

The relentless volatility and uncertainty have meant that while globalization is not dying, it is certainly changing. Companies and industries have had to deal with absolutely wild challenges. In 2021, with Covid wreaking havoc on every form of freight, significant congestion in the sea freight shipping sector meant that an additional one million cargo containers traveled by rail from China to Western Europe. Companies reorganized their supply chains to take advantage of these new routes of predictable certainty - we saw a lot of similar efforts into rejigging supply chains in this way to deal with harsh new global challenges. And then, because most of these routes went through Russia, that opportunity shut down with the war in Ukraine. Once again, logistics companies and freight forwarders and logistics companies had to scramble to reinvent their supply chain path - certainty is now a luxury.

That's but one example - everywhere you look, there has been volatility, uncertainty, challenges, and barriers. The result is that many industries have gone from just-in-time supply chains to just-in-case operations! It's also why we are seeing phrases like reshoring, 'friendshoring,' deglobalization, and other similar concepts emerge with greater speed - the great decoupling! Here's a fun fact: Sentieo, a market intelligence, and research firm, found that mentions of different forms of "shoring" during company earnings calls were higher in 2022 than at any other time since 2005,

"De-shoring,' for want of a better phrase, is a significant change. Back in 2005, the hottest book in business circles was by a New York Times columnist, Thomas Friedman. The World is Flat: A Brief History of the Twenty-first Century was seen as the best summary of the wild benefits of global free trade, interlinked economies, and global supply chains humming along in perfect harmony. Perhaps we never imagined what might happen to that perfect integration if many of the core assumptions were rendered irrelevant by fast-moving events and accelerating uncertainty - such as a global pandemic.

And so today, many companies are busily figuring out how to rebuild, reinvent, and realign their global operations, and that will consume a huge amount of the time of leadership teams in 2023.

They are busy looking at how to move production out of China into other countries - and doing it quickly. Vietnam is enjoying a manufacturing renaissance, and given its proximity, Mexico is particularly hot! Warehouse rents near airports are skyrocketing as companies turn to air cargo as the only possible solution to more complex logistics issues. The investment in automation, robotics, and skills acceleration is picking up speed as companies work to bring back overseas factory jobs to new facilities closer to home - seeking to achieve previously unattainable cost savings while doing so. Companies are discovering these investments can help to close the price gap - one American machinist notes they can now manufacture a high-precision progression stamping tool for parts used printed circuit boards, for about 5-15% above the price of Chinese toolmakers. Half a decade ago the gap was about 30-50%.

The trend is also driving forward the acceleration of many other trends. We are seeing new investments in technologies and ideas that bring production closer to home - more localized supply chains, vertical farming, 3d printing, mass customization technologies, and other concepts. It's a fascinating time for this to occur, as companies learned something significant about innovation during Covid - how to do it faster! Think about quickly many companies and industries quickly pivoted to the production of masks and PPE during the early days of the pandemic. They learned something new about speed, and are never going back!

All of this means that in 2023, many will discover that their next success will only come by challenging the most basic assumption about their previous success. Globalization was a big assumption and responsible for massive success, but now, with it being under significant pressure, new pathways to success must be discovered and capitalized upon.

There's an invaluable personal lesson in this type of thinking- you can never assume that what got you here is what is going to get you there. The future will always involve wild twists and turns, unexpected surprises, and wild volatility. To keep going forward, you need to continually reinvest in the foundations - the assumptions - that have defined your success!

Because your next success will come when you are ready to challenge your most successful assumptions!

Read the full post at: jimcarroll.com/2023/01/daily-inspiration-your-next-succes...

Deglobalisation, the game by Pepijn Barnard

Deglobalisering.

Nu China hapert ontdekt de rest van de wereld zijn kwetsbaarheid. Maar de reactie, deglobalisering, is al veel langer aan de gang.

Illustratie NRC Weekend

Russia over Syria by Bruce Sterling

Russian air force reducing rebel Syria to the new Grozny

Trade in the Age of Deglobalization by Milken Institute

1

Moderator

Daniel F. Runde

Senior Vice President, William A. Schreyer Chair,; Director, Project on Prosperity and Development, CSIS

Speakers

Henry Farrell

Stavros Niarchos Foundation Agora Professor of International Affairs, Johns Hopkins School of Advanced International Studies

Lauren Goodwin

Chief Market Strategist, New York Life Investments

Amit Midha

Global CEO, Alat

Cesar Purisima

Founding Partner, IKHLAS Capital; Milken Institute Asia Fellow; former Secretary of Finance, Republic of the Philippines

Mauricio Vila Dosal

Governor, State of Yucatan

Watch the session: milkeninstitute.org/events/global-conference-2024/program

Deglobalisation, the game by Pepijn Barnard

1

Deglobalisering.

Nu China hapert ontdekt de rest van de wereld zijn kwetsbaarheid. Maar de reactie, deglobalisering, is al veel langer aan de gang.

Illustratie NRC Weekend

Trade in the Age of Deglobalization by Milken Institute

1

Moderator

Daniel F. Runde

Senior Vice President, William A. Schreyer Chair,; Director, Project on Prosperity and Development, CSIS

Speakers

Henry Farrell

Stavros Niarchos Foundation Agora Professor of International Affairs, Johns Hopkins School of Advanced International Studies

Lauren Goodwin

Chief Market Strategist, New York Life Investments

Amit Midha

Global CEO, Alat

Cesar Purisima

Founding Partner, IKHLAS Capital; Milken Institute Asia Fellow; former Secretary of Finance, Republic of the Philippines

Mauricio Vila Dosal

Governor, State of Yucatan

Watch the session: milkeninstitute.org/events/global-conference-2024/program

Trade in the Age of Deglobalization by Milken Institute

Moderator

Daniel F. Runde

Senior Vice President, William A. Schreyer Chair,; Director, Project on Prosperity and Development, CSIS

Speakers

Henry Farrell

Stavros Niarchos Foundation Agora Professor of International Affairs, Johns Hopkins School of Advanced International Studies

Lauren Goodwin

Chief Market Strategist, New York Life Investments

Amit Midha

Global CEO, Alat

Cesar Purisima

Founding Partner, IKHLAS Capital; Milken Institute Asia Fellow; former Secretary of Finance, Republic of the Philippines

Mauricio Vila Dosal

Governor, State of Yucatan

Watch the session: milkeninstitute.org/events/global-conference-2024/program

Trade in the Age of Deglobalization by Milken Institute

Moderator

Daniel F. Runde

Senior Vice President, William A. Schreyer Chair,; Director, Project on Prosperity and Development, CSIS

Speakers

Henry Farrell

Stavros Niarchos Foundation Agora Professor of International Affairs, Johns Hopkins School of Advanced International Studies

Lauren Goodwin

Chief Market Strategist, New York Life Investments

Amit Midha

Global CEO, Alat

Cesar Purisima

Founding Partner, IKHLAS Capital; Milken Institute Asia Fellow; former Secretary of Finance, Republic of the Philippines

Mauricio Vila Dosal

Governor, State of Yucatan

Watch the session: milkeninstitute.org/events/global-conference-2024/program

Trade in the Age of Deglobalization by Milken Institute

Moderator

Daniel F. Runde

Senior Vice President, William A. Schreyer Chair,; Director, Project on Prosperity and Development, CSIS

Speakers

Henry Farrell

Stavros Niarchos Foundation Agora Professor of International Affairs, Johns Hopkins School of Advanced International Studies

Lauren Goodwin

Chief Market Strategist, New York Life Investments

Amit Midha

Global CEO, Alat

Cesar Purisima

Founding Partner, IKHLAS Capital; Milken Institute Asia Fellow; former Secretary of Finance, Republic of the Philippines

Mauricio Vila Dosal

Governor, State of Yucatan

Watch the session: milkeninstitute.org/events/global-conference-2024/program

Trade in the Age of Deglobalization by Milken Institute

Moderator

Daniel F. Runde

Senior Vice President, William A. Schreyer Chair,; Director, Project on Prosperity and Development, CSIS

Speakers

Henry Farrell

Stavros Niarchos Foundation Agora Professor of International Affairs, Johns Hopkins School of Advanced International Studies

Lauren Goodwin

Chief Market Strategist, New York Life Investments

Amit Midha

Global CEO, Alat

Cesar Purisima

Founding Partner, IKHLAS Capital; Milken Institute Asia Fellow; former Secretary of Finance, Republic of the Philippines

Mauricio Vila Dosal

Governor, State of Yucatan

Watch the session: milkeninstitute.org/events/global-conference-2024/program

US Dollar Collapse: 10 Stages That Could Change the Global Economy Forever In this gripping… by EconFiX Explained .

US Dollar Collapse: 10 Stages That Could Change the Global Economy Forever

In this gripping economic analysis, we walk through the 10 phases of the possible downfall of dollar supremacy, charting a course from early warning signs to a potential collapse of the world financial system as we understand it. Beginning with Nixon’s 1971 order to discontinue the gold standard, this video links past monetary policy to the dire trends unfolding now, such as unbridled money printing, exploding national debt, and chronic inflation. We discuss how emerging alternatives such as the digital yuan, BRICS projects, and bilateral trade agreements are weakening the world’s reliance on the U.S. dollar. As nations diversify their foreign exchange reserves and international institutions start offloading U.S. Treasuries, the fissures in dollar dominance widen. If faith falters, a balance of payments crisis may ensue, bringing America’s coveted financial status to an end. This thought-evoking report deconstructs every stage of this transition and asks: how far along are we with the last stage? Whether you’re a student of international finance or simply interested in the future of the dollar, this in-depth exploration of dollar hegemony is a must-see.

Timestamps:

0:00 – Nixon ends the gold standard

1:22 – Level 1: Uncontrolled monetary expansion

3:06 – Level 4: Rise of trade alternatives

5:42 – Level 6: Declining dollar reserve holdings

8:33 – Level 10: Collapse of dollar hegemony

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: US Dollar Collapse: 10 Stages That Could Change the Global Economy Forever

#dollarhegemony #usddecline #globaleconomy #bricscurrency #financialcrisis #monetarypolicy #debtcrisis #inflation #deglobalization #economiccollapse

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www.youtube.com/watch?v=kjJOngr1lRM

via EconFiX Explained

www.youtube.com/channel/UChZcdroxNO9q0-b4VTvRXNg

August 27, 2025 at 05:00AM

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Dollar Collapse? How Nixon’s 1971 Gold Standard Ended It All #shorts #dollarhegemony #usddecline… by EconFiX Explained .

Dollar Collapse? How Nixon’s 1971 Gold Standard Ended It All #shorts