
Could the dollar be in default?
The US has been able to run growing budget deficits by issuing more dollars as the reserve currency. If a polycentric world ends its indulgence, the shock to America could be great.
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Francesc Raventós is an economist, former dean of the Official Economist Association of Spain in Madrid, deputy mayor of Barcelona and co-author of Economic and Social Strategic Plan for the future of Barcelona.

The US has been able to run growing budget deficits by issuing more dollars as the reserve currency. If a polycentric world ends its indulgence, the shock to America could be great.

The International Monetary Fund, other economic institutions, politicians, experts, and a good number of indicators predict a new economic downturn. The causes will be diverse