WORLD ECONOMIC JOURNAL
JEFFREY SACHS
« The end of the West ’ s dominance means greater equality of wealth , prosperity and power »
By Adrien Henni
Professor Jeffrey Sachs , a renowned eco-nomist and leading voice on global sustainable development , shared with WEJ his thought-provoking analysis of the evolving geopolitical environment , the rising influence of BRICS nations and the path forward for achieving the SDGs .
Considering the current global environment , how do you foresee the US dollar maintaining its central role in the global economy and supporting US leadership ? The US dollar is of course the dominant currency today , but I believe that this dominance will end over the next 10-20 years as we move to a multi-currency global system . There are three reasons . First , and most importantly , the US has weaponized the dollar by confiscating the dollar holdings of other governments ( Russia , Venezuela , Afghanistan , Iran , and others ), leading the BRICS nations to construct a non-dollar settlements system .
Jeffrey Sachs is a University Professor and the Director of the Center for Sustainable Development at Columbia University . He also serves as President of the UN Sustainable Development Solutions Network , Co-Chair of the Council of Engineers for the Energy Transition , and SDG Advocate for UN Secretary General António Guterres , among many other positions . He has been honoured with the Tang Prize in Sustainable Development ( 2022 ) and was co-recipient of the Blue Planet Prize ( 2015 ).
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