The writer is a professor in the Dyson School at Cornell University and senior fellow at Brookings.
US president-elect Donald Trump wants a weaker dollar in order to boost exports, protect American jobs from foreign competition and reduce the trade deficit. He also wants a strong dollar and will not brook any challenges to its dominance in global finance.
If that is not enough of an inconsistency, the new administration’s policies could well be at cross-purposes with both of those intentions. Its actions will probably boost the dollar’s value in the short run while its status as a reserve currency may well become shakier.
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