The establishment of renminbi-based oil trading at a time when China and many other economies confront aggressive US tariffs, and possible further development of renminbi-based trade in other commodity markets, suggests that the US dollar could face an unprecedented challenge to its hegemony. It may in the near future no longer be seen as the anchor of the international monetary system, bringing to an end to what Valéry Giscard d’Estaing famously called the “exorbitant privilege” enjoyed by the US as a result of the dollar’s centrality in international trade. By John A. Mathews and Mark Selden.
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Results for Op-Ed Global Business & Finance
Thursday 6 December 2018
Tuesday 9 May 2017
Last month, the United Kingdom enjoyed its first full day without the need for coal power since the Industrial Revolution began. That’s remarkable news – and a sign of the future to come as the country that began humanity’s centuries-long romance with burning black rocks is now moving on. Just as the fax gave way to email and whale oil gave way to kerosene, so is coal giving way to cleaner forms of energy. And that handover will happen faster – perhaps fast enough to let us at least slow down the pace of climate change – if the massive and mighty insurance industry would play its part.
Tuesday 2 May 2017
Women need policies that support their active participation in the emerging green economy, including better education, skills training, and protections against workplace discrimination. Because the clean-energy industry is so new, it could help draw women into non-traditional higher-paid jobs like engineering. Enabling all citizens to meet their economic potential – will require active efforts to promote women’s social and political inclusion. Closing the gender gap is the right thing to do for women and the planet. It is also smart economics. Let’s not miss this opportunity. By Isabella Lövin and Ngozi Okonjo-Iweala