{"id":292350,"date":"2026-02-15T09:20:11","date_gmt":"2026-02-15T09:20:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/292350\/"},"modified":"2026-02-15T09:20:11","modified_gmt":"2026-02-15T09:20:11","slug":"fading-us-dollar-trust-threatens-world-economy-ex-imf-official-warns","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/292350\/","title":{"rendered":"Fading US dollar trust threatens world economy, ex-IMF official warns"},"content":{"rendered":"<p>Dwindling global trust in the US dollar is one of the most prominent risks facing a vulnerable world economy this year, according to <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/global-economy\/article\/3295852\/chinas-stalled-economic-engines-demand-strong-manufacturing-economist-urges-davos?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">Zhu Min<\/a>, an ex-deputy director of the International Monetary Fund and former deputy governor of the People\u2019s Bank of China.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">He noted that the credibility of the US dollar was being challenged as its share of global foreign exchange reserves had fallen to 57 per cent \u2013 a decline from 70 per cent in the past.<\/p>\n<p>On the other hand, \u201cthe proportions of <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3343554\/chinas-gold-rush-why-families-are-doubling-down-precious-metals?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">gold<\/a>, the euro and the yuan are rising, reflecting the market\u2019s confidence that the US dollar is dropping\u201d, Zhu wrote in an article in China\u2019s International Finance magazine on Wednesday.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Zhu added that the Federal Reserve\u2019s interest rate cuts would be a critical measure for steadying the financial market this year.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cBut if the pace of interest rate cuts does not align with the inflation situation, it will create new uncertainties,\u201d he warned.<\/p>\n<p>Chinese President Xi Jinping said that China must build a <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3341958\/china-strong-currency-mission-make-yuan-global-reserve-xi?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">\u201cstrong currency\u201d<\/a> that can be widely used in international trade, investment and foreign exchange markets and reach the status of a global reserve currency.<\/p>\n","protected":false},"excerpt":{"rendered":"Dwindling global trust in the US dollar is one of the most prominent risks facing a vulnerable world&hellip;\n","protected":false},"author":2,"featured_media":292351,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,16754,1657,14826,54,1576,4318,1247,25187,85,24570,4486,19127,46,85196,56284,17460,62734,20485,1032,7549,148637,148636,17510,45131,8429,67284,148638],"class_list":{"0":"post-292350","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-central-bank","10":"tag-china","11":"tag-cold-war","12":"tag-donald-trump","13":"tag-emerging-markets","14":"tag-federal-reserve","15":"tag-gold","16":"tag-gold-market","17":"tag-il","18":"tag-imf","19":"tag-interest-rates","20":"tag-international-monetary-fund","21":"tag-israel","22":"tag-military-spending","23":"tag-pboc","24":"tag-peoples-bank-of-china","25":"tag-reserve-currency","26":"tag-stablecoin","27":"tag-united-states","28":"tag-us-dollar","29":"tag-usdc","30":"tag-usdt","31":"tag-world-bank","32":"tag-world-economic-forum","33":"tag-xi-jinping","34":"tag-yuan","35":"tag-zhu-min"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/292350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=292350"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/292350\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/292351"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=292350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=292350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=292350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}