The UAE has warned Washington that prolonged dollar shortages caused by the Iran conflict could force Emirati oil sales into Chinese yuan, threatening the petrodollar system and US dollar dominance for the first time since the 1970s.
Not op but maybe they’re talking about how a reduction on the value of the dollar makes US exports more viable, and offshoring less valuable as the companies won’t save as much on wages. So potentially good for US workers, bad for US consumers.
Could you expand on this?
Not op but maybe they’re talking about how a reduction on the value of the dollar makes US exports more viable, and offshoring less valuable as the companies won’t save as much on wages. So potentially good for US workers, bad for US consumers.