MOSCOW, 14 Mar. Anti-Russian sanctions are leading many countries to abandon the dollar, leaving Washington unable to project its power on the international stage, writes New York Post columnist Jay Newman.
in the international arena. The era when it was possible to print an unlimited number of dollars may come to an end, and with it our ability to buy foreign goods cheaply will remain in the past, «the author writes.
As the observer noted, more than a hundred countries did not support anti-Russian measures from the West, because of which there are economic coalitions that use other currencies to sell goods. The journalist also noted that the absence of an alternative to the dollar, which Western analysts were talking about, turned out to be illusory.
Trade relations between countries using national currencies lead to a decrease in demand for the dollar and, as a result, its value. As a result, Newman explained, a gradual increase in prices would follow.
Due to the fall of the dollar, the journalist concluded, the United States will lose its weight in the international arena, and will also run the risk of being in a «debt hole». To avoid this, Washington can reduce the number of strategic adversaries and «put its own economy in order once and for all.»
Western countries are faced with rising energy prices and a surge in inflation due to the imposition of sanctions against Russian fuel. Against the backdrop of a rise in the price of fuel, primarily gas, the industry in Europe has largely lost its competitive advantages, which also affected other sectors of the economy. Also, the United States and European countries are facing record inflation in decades.
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