Donald Trump’s trade war and the country’s dire fiscal position risk plunging Britain into a Greek-style debt crisis, investors have warned. Weaker economic output combined with the Treasury’s negative fiscal data are exposing Britain to a “negative growth spiral”. Britain’s £2.7 trillion debt, which exceeds the size of the economy, leaves it vulnerable to the …
Tag: Great Britain
How is one global reserve currency replaced by another?
Over the past century, monetary systems have changed about every 30-40 years on average, according to the evidence of monetary history. Today, the existing monetary system is over 50 years old, so its transformation is long overdue. There are persistent attempts by different states to dethrone the US dollar as the world’s leading reserve currency …