episode-header-image

Nov 2023

24m 54s

The global power of the dollar

Financial Times

About this episode

Up next

Mark Carney on a world in rupture — and what comes next

Canada’s Prime Minister, Mark Carney, received a standing ovation at the World Economic Forum in Davos after warning that the global order has entered a period of “rupture”. In a post-speech interview with Gideon, Carney reflects on how globalisation went wrong — and on what can ... Show More

Alexander Stubb on Greenland: the good, the bad or the ugly?

Gideon speaks to Finland’s president about how to resolve the stand-off between Europe and the US over Greenland. Alexander Stubb describes the dispute as the "most difficult issue he has faced since taking office", arguing that discreet “back office” diplomacy, rather than publi ... Show More

Sudan: inside the world’s worst humanitarian crisis

Famine, mass killings and the collapse of basic government services have pushed Sudan into what the UN now calls the world’s worst humanitarian crisis. As regional powers across the Middle East fuel the conflict by backing rival factions, civilians have largely been left to fend ... Show More

Recommended Episodes

It’s all about the dollar

<p>The US Supreme Court rejects an existential legal challenge to the country’s top consumer finance watchdog, a $10bn US property fund is running low on liquidity as investors demand their money back, and Russia and China agree to tighten military ties and deepen their economic ... Show More

Israel debates retaliation against Iran

<p>US lawmakers face new pressure to approve military aid for Israel, and Tianqi Lithium’s strategy is at risk as Chilean President Gabriel Boric’s government works to take back control of resources. Plus, depositors put pressure on big US banks.</p><br><p><strong>Mentioned in th ... Show More

Russian gas projects face sanctions

<p>Apple posted record revenue of $123.9bn in the holiday quarter, and investors had a tough time gauging the Federal Reserve’s hawkish tone, the UK’s new information watchdog says he wants the country to take the lead on holding Big Tech to account in a post-Brexit Britain free ... Show More

Is a post-dollar world coming?

<p>US inflation is expected to have eased due to falling energy prices and Ukraine has regained momentum fighting back the Russian invasion. Plus, Ruchir Sharma tells us why he thinks the dollar may not be the world’s dominant currency for much longer. </p><br><p><strong>Men ... Show More

Shanghai lockdown forces bankers to camp in offices

<p>US and eurozone government debt sold off on Tuesday as traders weighed the prospect of stronger sanctions against Russia and comments from a top policymaker at the Federal Reserve signalling more aggressive action, President Joe Biden announces US, UK and Australia co-operatio ... Show More

Money Talks: Is the West losing its sanctions war?

It's been two years since Russia brought war to Ukraine. America, Britain and the European Union may not have intervened by putting boots on the ground—but they have launched a massive financial counteroffensive. Vladimir Putin’s government, his cronies and the businesses profiti ... Show More

Russia’s war on Ukraine boosts China’s financial ambitions

<p>Oil and natural gas prices see-sawed as global stocks fell on Monday after a US push to ban Russian crude faced German resistance, the US Treasury warns banks to be on high alert for sanctions evasion, sanctions on Russia could aid Beijing’s efforts to internationalise the ren ... Show More

Will sanctions create a backlash against the dollar?

<p>French bank shares and bonds were rattled this week after the recent poll showed stronger results for right-wing French presidential candidate, Marine Le Pen.</p><p>Aluminium producer Rusal became the first Russian company to publicly call for an investigation into the alleged ... Show More

China Wants The Yuan To Rival The Almighty Dollar

The US dollar is the world’s most-used currency for global transactions. Now China aims to elevate its currency as an alternative. Over the past year, President Xi Jinping's government has struck deals linked to the yuan stretching from Russia and Saudi Arabia to Brazil and even ... Show More

How the US Dollar Became an International Weapon of War

After Russia's invasion of Ukraine, the US took a number of extraordinary steps to cut Moscow out of the international financial system. The country immediately was hit with a slew of sanctions. It was cut off from the SWIFT payment system and it even had its dollar reserves seiz ... Show More