How U.S. dollar's hegemony creates global chaos

STORY: How U.S. dollar's hegemony creates global chaos DATELINE: April 4, 2023 LENGTH: 00:02:18 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of U.S. related footage 2. SOUNDBITE 1 (English): PATRICK MINFORD, Professor of Applied Economics at Cardiff University 3. various of the U.S. dollar 4. SOUNDBITE 2 (Arabic): KARIM AL-OMDA, Professor with Arab Academy for Science, Technology and Maritime Transport 5. people waiting in front of a bank 6. people walking on the street 7. an exchange office 8. SOUNDBITE 3 (English): DAVID SUMUAL, Chief economist with PT Bank Central Asia Tbk. Indonesia 9. various of global economic trade related footage STORYLINE: Since the establishment of the Bretton Woods system in 1944, the U.S. dollar has been the global reserve currency. Since then, Washington has launched wars and leveled sanctions against any challenger to enforce the dollar's dominance. Experts have raised concerns that the hegemony of the U.S. dollar is the main source of instability and uncertaint

U.S. rate hikes exacerbate slowdown in global growth

STORY: U.S. rate hikes exacerbate slowdown in global growth DATELINE: Sept. 21, 2022 LENGTH: 00:02:22 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of U.S. Federal Reserve and New York Stock Exchange 2. SOUNDBITE 1 (Turkish): CENK AKYOLDAS, Finance coordinator, Istanbul-based NGO World Trade Business Development Council 3. SOUNDBITE 2 (Japanese): Fruit and vegetable store owner 4. SOUNDBITE 3 (Arabic): KARIM AL-OMDA, Cairo-based economic expert and professor with Arab Academy for Science, Technology and Maritime Transport STORYLINE: Recent interest rate hikes by the U.S. Federal Reserve have led to the continuous rise of the U.S. dollar exchange rate, a surge that threatens to exacerbate a slowdown in global growth and amplify inflation worries around the world. Türkiye had been earning almost half of its revenues in euros. The advantage is now vanishing as euro continues to fall against the U.S. dollar. SOUNDBITE 1 (Turkish): CENK AKYOLDAS, Finance coordinator, Istanbul-based NGO World Trade

Remittances from Egyptian expatriates hit 31.9 bln USD in fiscal 2021-2022

STORY: Remittances from Egyptian expatriates hit 31.9 bln USD in fiscal 2021-2022 DATELINE: Aug. 24, 2022 LENGTH: 00:01:03 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Egypt (CBE) 2. various of an accountant counting banknotes 3. various of different banks and ATMs in Egypt STORYLINE: The remittances from Egyptian expatriates rose to 31.9 billion U.S. dollars in the fiscal year 2021-2022 ending June, the Central Bank of Egypt (CBE) said Tuesday. The figure registers a 1.6-percent increase from 31.4 billion dollars in the fiscal year 2020-2021, according to a CBE statement. Official statistics show some 13 million Egyptians living and working abroad, mainly in the Gulf countries. "Remittances from Egyptian expats, which were more than the total revenues of direct investments, Suez Canal and tourism in the fiscal year 2021-2022, have become a cornerstone of Egypt's economy," Egyptian economist Karim Al-Omda said. He explained that the Egyptian workers abroad p

U.S. financial hegemony adds economic woes for Mideast countries amid serious inflation

STORY: U.S. financial hegemony adds economic woes for Mideast countries amid serious inflation DATELINE: Aug. 23, 2022 LENGTH: 00:02:44 LOCATION: Cairo CATEGORY: SOCIETY/POLITICS SHOTLIST: 1. STANDUP (English): LI RUI, Xinhua correspondent 2. SOUNDBITE 1 (Arabic): ALAA GHABOURA, Beirut resident 3. SOUNDBITE 2 (Turkish): KAYA ARDIC, Scholar in international trade at Piri Reis University in Istanbul 4. SOUNDBITE 3 (Arabic) Karim Al-Omda, Cairo-based economic expert and professor with the Arab Academy for Science, Technology and Maritime Transport STORYLINE: STANDUP (English): LI RUI, Xinhua correspondent "The United States has abused the hegemony of the U.S. dollar to play monetary easing and tightening for its own sake, which leads to turmoil in the world economy. Countries in the Middle East are facing severe inflation, soaring commodity prices, largely depreciating local currencies, and capital outflow." SOUNDBITE 1 (Arabic): ALAA GHABOURA, Beirut resident "The situation is very bad this year. Prices are