U.S. financial hegemony backfires as countries opt for de-dollarization

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U.S. financial hegemony backfires as countries opt for de-dollarization

STORY: U.S. financial hegemony backfires as countries opt for de-dollarization DATELINE: July 14, 2022 LENGTH: 00:02:33 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY/POLITICS SHOTLIST: 1. various of the street view of in the U.S. 2. SOUNDBITE (English): MICHAEL HUDSON, Professor of economics at the University of Missouri-Kansas City STORYLINE: With the U.S. dollar being increasingly weaponized by a self-serving Washington, countries have been seeking reliable alternatives to regain financial independence. India's central bank has recently unveiled an Indian rupee settlement system for international trade, a move seen as a step towards de-dollarization. An American economist says the U.S. financial hegemony backfires as countries opt for de-dollarization. SOUNDBITE (English): MICHAEL HUDSON, Professor of economics at the University of Missouri-Kansas City "That (the dollar hegemony) enabled America to have high living standards and to be rich despite the fact that it's de-industrialized. The question is how

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