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According to the expert, his “apparently crazy idea” that the dollar will collapse should not look like this, pointing to the presence of data that indicates it.
He said: “The current account deficit of the United States, which is the broadest measure of the international imbalance with the rest of the world, suffered a record deterioration in the second quarter. The so-called net national saving rate, which is the sum of the Savings from individuals, businesses and the government sector fell to a record low in the second quarter. ” Returning to negative territory for the first time since the global financial crisis. “
Last June, the economist predicted a collapse of the US dollar in the next year or two, but now he believes it will happen by the end of 2021.
Roach, the former head of investment bank Morgan Stanley Asia, also raised the possibility of a double economic recession in the United States above 50% this year. United States) is not something that can be ignored. “
From the Bloomberg website it appears that the dollar index, which measures the value of the US currency against a basket of major currencies, was at the beginning of the current world at the level of 97 points, but now the index is at 94 points .
On the other hand, an International Monetary Fund spokesman, Jerry Rice, said Thursday that the global economic outlook is not as bleak as expected last June.
He noted that economic data was better than expected from China and other developed economies.
Rice said the situation remains “unstable” in many developing and emerging market countries as well as China, noting that the IMF is also concerned about rising debt levels.
Previously, the Organization for Economic Cooperation and Development said that global GDP will lose $ 7 trillion by the end of 2021 due to the Corona crisis, describing this as a “major shock.”
