The strengthening of the dollar will have an impact on the entire global financial system. About this in an interview with the agency “Prime” reported Sofya Glavina, Head of the Digital Economy Program at the Institute of World Economy and Business of the Peoples’ Friendship University of Russia.
According to the expert, the strengthening of the dollar will not affect the ruble. The mutual imposition of sanctions by the West and Russia has led to the fact that the country’s financial market, as Glavina emphasizes, has become independent of the world market. At the same time, the dollar may weaken due to distrust of the currency against the backdrop of blocking Moscow’s assets in the West.
The strengthening of the dollar, as Glavina suggests, can negatively affect the countries of the European Union, Asia, Africa and Latin America. As exceptions, the specialist named the states of the Persian Gulf, Taiwan, South Korea, Japan, since they act as exporters.
The situation with India and China remains unclear.
“Perhaps their currencies will hold out, as they are in a better position than Western Europe and the US in the current economic and political situation”– concluded Glavina.
