Economist Nouriel Roubini Predicts Major Shift in Global Currency Landscape
According to NYU economist Nouriel Roubini, strategic competitors of the US, such as China, Russia, Iran, Korea, Pakistan, and their allies, are interested in creating a new monetary system as an alternative to the US dollar.
This is because they are worried about potential sanctions imposed by the US and Europe.
Roubini believes that China may propose the RMB as an alternative to the US dollar, leading to a shift from a unipolar to a bipolar global reserve currency system.
However, this process will not happen immediately, negatively impacting global growth and production costs. Roubini warns that the US banking crisis is not over and predicts that a recession will likely occur later this year.
Roubini’s full interviews with Yahoo Finance and CNBC-TV18 can be found here and here, respectively.
Roubini argues that the US-China cold war is getting colder, and this situation is exacerbating the trend toward an alternative global reserve currency system.
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He suggests that this change will increase the cost of financing for the US when the country already has very high public and private debt ratios.
Additionally, Roubini predicts that the credit crunch resulting from the US banking crisis will significantly reduce economic growth and lead the US economy into a recession later this year.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
