Stephen Roach warns the “world is having serious doubts about the once widely accepted presumption of American exceptionalism.”
The prominent economist says that the era of the U.S. buck may be coming to an end and is forecasting a 35% decline soon in the U.S. currency against its major rivals, citing increases in the nation’s deficit and dwindling savings.
The finance expert said that the rest of the “world is having serious doubts about the once widely accepted presumption of American exceptionalism.” Roach makes the case that although a weaker dollar, sometimes favored by President Donald Trump, would benefit U.S. exports in the short term, it would prove more problematic over the longer term.
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