Experts call for de-dollarization for national financial stability amid Fed rate hikes

STORY: Experts call for de-dollarization for national financial stability amid Fed rate hikes DATELINE: July 29, 2022 LENGTH: 00:02:12 LOCATION: Paris/Rio de Janeiro CATEGORY: POLITICS/ECONOMY SHOTLIST: various of U.S. Federal ReserveSOUNDBITE 1 (English): RONNIE LINS, Director of China-Brazil Center for Research and Businessvarious of containersvarious of street views in U.S.SOUNDBITE 2 (French): MICHEL RUIMY, Economist, Professor of economy at Sciences Po Paris and ESCP Europe STORYLINE: Experts have called for de-dollarization to maintain national financial stability amid the U.S. Federal Reserve rate hikes. The U.S. Fed is on an aggressive rate hike cycle. On Wednesday, it raised its benchmark interest rate by 75 basis points, bringing the total interest rates hikes since March to 225 basis points. SOUNDBITE 1 (English): RONNIE LINS, Director of China-Brazil Center for Research and Business "The strong dollar hurts developing nations. The dollar is getting stronger, hitting 20-year highs against