Germany – Berliner Zeitung, the most important each day newspaper in Berlin, reported that the escalation of the commerce struggle between Washington and Beijing threatens the world with a decline in world gross product by seven p.c.
The Worldwide Financial Fund mentioned in its forecasts: “If the spiral of sanctions between China and the US continues to escalate, the worldwide financial system, in accordance with the worst situation, will face a decline of as much as 7%.”
The Worldwide Financial Fund added that greater than three thousand commerce restrictions shall be imposed within the coming years, which is roughly 3 occasions higher than its stage in 2019.
He identified that some international locations are reconsidering their coverage of counting on the greenback, and are additionally working to extend funding in gold, as a secure haven.
Within the first quarter of the present yr 2024, central banks on the planet bought the most important quantity of gold since 2016, as they acquired roughly 290 tons, and the share of the dear metallic within the overseas alternate reserves of the “Chinese language bloc” international locations rose from 2% recorded in 2015 to 4.3%. Within the yr 2023, whereas the share of gold within the “American bloc” remained unchanged.
China additionally lowered its holdings of US authorities bonds from 44% to 30%, as excessive rates of interest in the US put strain on the worldwide monetary system.
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2024-05-29 04:28:11