,Mood for change: People take pictures along the skywalk at Gardens by the Bay in Singapore. Asean countries are keen on establishing a common currency, similar to the euro, a conference in the city-state heard. — AFPdự đoán số đề hôm nay（www.vng.app）：dự đoán số đề hôm nay（www.vng.app） cổng Chơi tài xỉu uy tín nhất việt nam。dự đoán số đề hôm nay（www.vng.app）game tài Xỉu dự đoán số đề hôm nay online công bằng nhất，dự đoán số đề hôm nay（www.vng.app）cổng game không thể dự đoán can thiệp，mở thưởng bằng blockchain ,đảm bảo kết quả công bằng.
SINGAPORE: South-East Asia, like much of the rest of the world, is losing patience with the US dollar.
The weaponisation of the world’s reserve currency, as through sanctions on those deemed bad actors – such as Russia for its war in Ukraine – has pushed even the typically diplomatic South-East Asians to warn the United States of the consequences.
In a conference in Singapore on Tuesday, multiple former officials spoke about de-dollarisation efforts underway and what economies in the region should be doing to mitigate the risks of a still-strong dollar that’s weakened local currencies and become a tool of economic statecraft.
“The US dollar is a hex on all of us,” George Yeo, former foreign minister of Singapore, said at the conference hosted by the ISEAS-Yusof Ishak Institute.
“If you weaponise the international financial system, alternatives will grow to replace it and the US dollar will lose its advantage.”
While few expect to see the end of the dollar’s global sovereign status anytime soon, Yeo urged that the risk of it happening be taken more seriously.
“When this will happen, no one knows, but financial markets must watch it very closely,” said Yeo, who is a visiting scholar at the National University of Singapore’s Lee Kuan Yew School of Public Policy.
After gaining 6.2% in 2022, the US dollar is down 0.67% in the first several days of this year, through the end of Tuesday, according to the Bloomberg Dollar Spot Index.
Yeo noted that in times of crisis, the dollar rises further – as with levies on Russia that have left Russian banks estranged from a network that facilitates tens of millions of transactions every day, forcing them to lean on their own, much smaller version instead. That’s put more pressure on third-party countries, too, which have to unduly rely on US dollar use.
Following on Yeo’s remarks later in the conference, former Indonesian trade minister Thomas Lembong applauded South-East Asian central banks that already have developed direct digital payments systems with local currencies, and encouraged officials to find more ways to avoid leaning too hard on the greenback.
“I have believed for a long time that reserve currency diversification is absolutely critical,” said Lembong, who’s also a co-founder and managing partner at Quvat Management Pte Ltd.
Supplementing dollar use in transactions with the use of the euro, yuan and the yen, among others, would lead to more stable liquidity and ultimately more stable economic growth, he said.
The 10 Asean countries are just disparate to establish a common currency, similar to the euro.Usdt自动充值接口声明:该文看法仅代表作者自己，与本平台无关。转载请注明：dự đoán số đề hôm nay（www.vng.app）:South-East Asia losing patience with dollar’s clout