U.S. dollar hegemony adds to economic challenges facing African countries: Nigerian expert
STORY: U.S. dollar hegemony adds to economic challenges facing African countries: Nigerian expert
DATELINE: Aug. 6, 2022
LENGTH: 00:02:29
LOCATION: Abuja
CATEGORY: ECONOMY
SHOTLIST:
1. various of Nigeria's capital city
2. various of center for China studies office in Abuja
3. SOUNDBITE (English): CHARLES ONUNAIJU, Director, Center for China Studies, Nigeria
STORYLINE:
The U.S. economy contracted for the second straight quarter, with growth falling at a 0.9 percent annual rate in the April-June period.
This has sparked a new debate about the faltering economy in the U.S.
A Nigerian expert said this could be a very worrying trend, as African countries that rely on the U.S. market may face greater economic challenges due to the U.S. dollar hegemony.
SOUNDBITE (English): CHARLES ONUNAIJU, Director, Center for China Studies, Nigeria
"There is a broad understanding among economists that when there is a contraction in two consecutive quarters, as in the case of the United States, there is an obvious danger."
- Product Code
- ILEA001002248
- Registered date
- 2022/8/06 00:00:00
- Credit
- Xinhua / Kyodo News Images
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- Xinhua News Agency.All Rights Reserved
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