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Stephen Roach, former chairman of Morgan Stanley Asia, believes the US dollar will collapse in June 2021, falling 35% against major currencies over the next two years. It says there is a 50% chance that the US economy will face a double dip recession due to the coronavirus pandemic, writes Mediafax.
Stephen Roach bases his prediction on a number of historical elements, noting that 8 of the last 11 business recovery cycles have doubled.
“The national net savings rate, which adds together the savings of all individuals, businesses and the government sector, declined in the second quarter, entering negative territory for the first time since the 2009 financial crisis,” says Stephen Roach. , who currently works for Yale University.
“As we move into the flu season, the infection rate will start to rise again, the number of deaths will reach an unacceptably high level, the risk of a second economic downturn is something we cannot ignore,” he said. the economist in an intervention on CNBC.
Editor: Luana Pavaluca
