Group 1 - The article discusses the historical dominance of the US dollar as the global reserve currency, referred to as "dollar hegemony," and how this status has faced challenges from leaders like Saddam Hussein and Muammar Gaddafi [2][16]. - Saddam Hussein's decision in late 2000 to switch Iraq's oil sales from dollars to euros was a significant challenge to the "petrodollar" system, which has been a cornerstone of US economic influence [2][4]. - The shift to euros by Iraq reportedly cost the US economy hundreds of billions of dollars and raised concerns about a potential sell-off of dollar reserves, which could lead to a dollar collapse and economic crisis [4][16]. Group 2 - The article highlights that the US-led invasion of Iraq in 2003 was partly motivated by the need to restore oil pricing in dollars, ensuring the integrity of the petrodollar system [6][16]. - Gaddafi's ambition to create a gold-backed currency for Africa posed a threat to Western financial dominance, as it aimed to establish a regional alternative to the dollar [8][9]. - The military intervention in Libya in 2011, which resulted in Gaddafi's death, was also driven by the desire to prevent the establishment of the gold dinar and maintain the dollar's supremacy in African trade [12][16]. Group 3 - The article concludes that the fates of Saddam and Gaddafi serve as a warning about the high risks associated with challenging the dollar's global dominance, as their actions led to their downfall and the preservation of US economic interests [16][21]. - The narrative emphasizes that the stated reasons for Western interventions often mask deeper economic motivations aimed at maintaining the existing financial order [21].

美国经济最近有点绷不住了。GDP增速被美联储下调到1.4%，通胀预期却飙到3%，失业率还在往上爬。特朗普一看这数据，直接破防，对着美联储主席鲍 威尔就是一顿输出："愚蠢！不如我自己去干！" 这话从年初一直说到现在，还是老样子。美联储今年第四次按兵不动，利率卡在4.25%-4.5%，特朗普急得跳脚，恨不得自己上手降息250个基点。可惜美联 储不是他家的，不是他发条帖子就能改政策的。 除了金融战，中国手里还有一张王牌，就是稀土。出口管制让美国汽车和军工企业急得跳脚，通用、福特只能拿到临时许可，供应链随时可能断供。中国控 制全球90%的稀土加工，这一招比关税狠多了。美国想用乙烷出口卡中国脖子，结果发现中国早就布局，进口依赖度从80%降到35%。 特朗普这么急，是因为他的关税政策玩脱了。4月他突然对中国商品加税到125%，结果中国反手就抛美债，全球市场跟着抖三抖。美国企业叫苦连天，公司 利润预期直接下调，零售数据跌得妈都不认。特朗普甩锅技能点满，把经济疲软的锅全扣在美联储头上。他说降息能省6000亿利息支出，但问题是，美债现 在没人要了，收益率狂飙，30年期都破5%了，财政部发新债的成本高得吓人。 中国这边也没闲着。 ...

Group 1 - The current status of US dollar hegemony is facing unprecedented challenges, with a significant decline in its share of global foreign exchange reserves from 71% in 1999 to 57.4% in Q1 2024, marking a historical low [4][5][6] - Emerging markets, particularly Brazil and India, are actively reducing their dollar reserves, with Brazil and China agreeing to conduct trade settlements in local currencies, indicating a shift towards de-dollarization [4][5][6] - The dollar's share in international trade settlements has also shown a slight decline, with its current share at 49.08%, while the euro and yuan are gaining ground [12][13] Group 2 - The US federal debt has surpassed $36 trillion, with a debt-to-GDP ratio of 124%-125%, the highest since World War II, raising concerns about the sustainability of dollar hegemony [16][17][19] - The US is employing unconventional debt monetization strategies, including the introduction of century bonds and inflation-linked bonds, to maintain the attractiveness of dollar assets [40][41] - The Federal Reserve's aggressive monetary policy, including a cumulative rate hike of 500 basis points since March 2022, has led to significant global financial repercussions, exacerbating the trend of de-dollarization [21][22][24] Group 3 - The "de-dollarization" process has accelerated, with over 110 countries actively participating in initiatives to reduce reliance on the dollar, particularly following geopolitical tensions such as the Ukraine crisis [27][28] - Various regions are adopting different strategies for de-dollarization, with BRICS countries establishing local currency settlement systems and Southeast Asian nations planning to reduce dollar settlements in regional trade [28][29] - The challenges to de-dollarization include the high conversion costs associated with the dollar's established network effects and the depth of the US debt market, which remains unmatched by non-US markets [29][30]

金十数据整理：每日全球外汇市场要闻速递（6月23日） 其他： 美元： 1. 美国财长贝森特：稳定币可以巩固美元霸权地位。 2. 美联储戴利：美联储目标面临的风险大致平衡，需同时关注（就业和通胀）两方面。 非美主要货币： 1. 美元兑日元突破147，刷新5月14日以来新高。 2. 纽元兑美元、澳元兑美元双双触及一个月低位。 3. 欧洲央行管委森特诺：欧元区经济需要欧洲央行的额外刺激。 1. 美元兑泰铢一度涨至5月20日以来最高水平。 2. 穆迪：泰国央行本周可能降息25BP。 3. 三菱日联：菲律宾比索、韩元和泰铢更容易受油价飙升的影响。 美元/日元 澳元/美元 纽元/美元 美元/泰铢 ...

来源：@中国经济周刊微博 本刊记者 周琦 阿里、京东等互联网大厂抢滩、美国参议院首次通过法案、多国多地金融机构加速入场，一场国际金融暗战悄然展开…… 现在直接用稳定币，不光绕过了SWIFT，1小时内到账，还能省去兑换美元的费用。更关键的是，在没有银行的地方，稳定币也可以交易，这就大 大扩展了国际支付的方式和空间。 近日，香港特区落地《稳定币条例》。分析认为，这意味着美元霸权的"垄断高墙"，又被凿开一道缝。 以后，跨境电商就可以用和港币挂钩的稳定币结算，手续费直降80%，这可比传统用美元结算的SWIFT便宜多了。更值得关注的是，香港财经事 务及库务局局长许正宇还公开表示，从法规角度看，不排除稳定币挂钩人民币的可能性。这样一来，SWIFT估计有些紧张。 比如，俄乌刚开起冲突那会，俄罗斯被踢出了SWIFT系统，结果，一笔跨境货款得绕3家银行5天才能到账；伊朗之前也是被掐断过这个"金融脐 带"，在国际上买东西那叫一个费劲。 而现在香港玩的这手稳定币，直接把SWIFT甩到了一边，变身"跨境结算高铁"——商家上午给内地发货，下午钱就到账，比当地银行转账还快。 为啥这么厉害？因为绕开了SWIFT直接点对点。 SWIFT全名 ...

欧洲美元是在美国境外流通的美元存款，以银行账本上的数字形式存在，而非实物货币。这种账本货币 体系通过全球银行网络实现了高效的资金流动，成为现代全球化经济的核心支柱。 长期以来，美元被普遍认为是全球储备货币，但这一观点存在重大误解。自20世纪50年代中期以来，真 正的储备货币并非美元，而是欧洲美元（Eurodollar）。欧洲美元是在美国境外流通的美元存款，以银 行账本上的数字形式存在，而非实物货币。这种账本货币体系通过全球银行网络实现了高效的资金流 动，成为现代全球化经济的核心支柱。重要的是，欧洲美元的创造和流动完全不在美国监管范围之内， 这使其独立于美国货币当局的控制。 一个独特的全球货币 欧洲美元体系起源于20世纪50年代，当时国际贸易和金融活动的全球化需求推动了超越国家边界的通用 货币的出现。冷战时期，美元在国际交易中的广泛使用促使欧洲等地的银行机构不断累积并持有美元存 款，这些存款被称为欧洲美元。其中，欧洲银行所持有来自苏联的美元存款最为醒目。 储备货币的核心功能是作为中介货币，连接不同经济体系，促进国际贸易和资本流动。传统观念认为美 元是全球储备货币，但这种看法忽略了欧洲美元的实际主导地位。欧洲美元 ...

Core Viewpoint - The article discusses former President Trump's dissatisfaction with Federal Reserve Chairman Jerome Powell, highlighting Trump's desire to potentially replace Powell and the implications of such a move on monetary policy and the independence of the Federal Reserve [1][3][11]. Group 1: Trump's Criticism of Powell - Trump has expressed that he would never reappoint Powell, criticizing him for slow interest rate hikes during the post-pandemic inflation period [3][4]. - Trump's main grievances stem from Powell's monetary policy decisions, which he believes have negatively impacted the economy and stock market [4][5]. Group 2: Political and Economic Implications - Trump's potential appointment as Fed Chair could allow him to implement aggressive monetary policies, such as zero interest rates and unlimited quantitative easing, to create a facade of economic prosperity [7][8]. - This move could undermine the independence of the Federal Reserve, setting a precedent for future political interference in monetary policy [8][11]. Group 3: Personal Financial Interests - Trump's business empire, burdened with $2.3 billion in debt, would benefit from lower interest rates and a favorable monetary policy environment, directly impacting his financial interests [8][9]. - The potential for increased consumer spending due to a loose monetary policy would also positively affect Trump's businesses, including hotels and golf courses [9][11].

Core Viewpoint - The article discusses the recent trade tensions between the US and China, highlighting the underlying economic imbalances that have led to these conflicts, and emphasizes the need for understanding macroeconomic principles to navigate these challenges effectively [2][4]. Group 1: Trade Tensions and Economic Imbalances - The US introduced a "reciprocal tariff" law, imposing import tariffs on various countries, with rates on China reaching as high as 125% [1] - The trade friction is seen as a culmination of 40 years of global economic imbalance [2] - The global market experienced significant volatility within a short period due to the escalating tariff disputes and subsequent negotiations [3] Group 2: Macroeconomic Analysis - The article critiques the common misconception that high national debt necessitates austerity, arguing that spending can create income in macroeconomics [8][9] - It introduces three key concepts in macroeconomic analysis: - Endogeneity, where demand is created by income rather than being externally given [12][13] - General equilibrium, emphasizing the interconnectedness of economic factors [14][16] - The idea that economic policy is fundamentally a battle of ideas, as illustrated by the motivations behind the US's tariff actions [17] Group 3: The Dollar's Role and Economic Structure - The article discusses the historical context of the dollar's dominance and its implications for the US economy, noting a significant decline in manufacturing's share of GDP from 24% in 1970 to 10% in 2024 [22][23] - It highlights the "Dutch disease" phenomenon, where financial sectors become more profitable at the expense of manufacturing, leading to economic hollowing out [23][26] Group 4: China's Economic Strategy - The article posits that China holds more leverage in the trade conflict due to its ability to create demand, contrasting with the US's supply issues [29] - It suggests that China could stimulate its economy through infrastructure projects, which could quickly boost GDP growth [29][30] - The article proposes a "middle strategy" of investment-driven growth to stabilize the economy while transitioning to a consumption-driven model [31][49] Group 5: Entrepreneurial Opportunities - The article emphasizes the importance of understanding macroeconomic trends for entrepreneurs, particularly the impact of technology and AI on future business opportunities [39][40] - It advises entrepreneurs to avoid microeconomic thinking traps and to focus on consumption-driven investments as a core strategy [42][43]

大伙儿都知道，金融战场的硝烟不亚于真刀真枪的战场，这两天，香港和深圳接连放出大招，政策密集落地，人民币国际化步子迈得又稳又快。 这些数字背后，是咱们的支付系统（CIPS）覆盖了178个国家和地区，香港离岸人民币存款超过8500亿元，连印度尼西亚都和咱们签了本币结算协议。但光 有这些还不够，美国动不动就拿美元当制裁工具，逼得不少国家想找条退路，人民币这时候站出来，既是机遇也是责任。 从跨境上市互通到金融合作机制升级，再到人民币全球布局的深化，中国正用一套组合拳，在金融领域向美元霸权发起强力冲击。今天咱们就掰开了揉碎了 聊聊，这些布局到底藏着什么玄机。 先说香港和深圳这对"金融双城"，最近中央出台的政策里，最扎眼的一条是允许符合条件的香港上市企业到深圳第二上市，这可不是简单的"多开个场子卖 货"，背后藏着深意。香港是国际金融中心，深圳是科技创新的"中国硅谷"，两城一联手，既能帮企业用人民币融资、降低对美元的依赖，又能把国际资本 和内地市场拧成一股绳。 举个例子，一家大湾区企业同时在港交所和深交所上市，不仅能吸引外资，还能拿到人民币资金支持，两边市场优势互补，融资成本降了，抗风险能力也强 了。这招棋，既巩固了香港的 ...

纽约联邦储备银行地下金库的监控画面里，五辆印着中国国旗的装甲运金车正缓缓驶离。这不是电影桥段——2025年前五个月，中国从欧美金库分批运回 181吨黄金，相当于全球年产量的6%！美债违约倒计时牌已挂到8月，中国外汇储备里的美债占比悄悄降到15年最低，黄金储备却飙到2292吨新高。这场无 声的金融攻防战，正在改写美元霸权规则。 一、美债定时炸弹进入读秒 三、去美元化组合拳出招 中国防金融风险的底牌可不止黄金，人民币跨境支付系统（CIPS）现在能处理48种货币，上半年交易量暴涨67%；中俄石油交易全用人民币结算，沙特拿着 石油人民币转头买中国军舰；最狠的是稀土——出口配额卡死美国军工命门，F-35战机的发动机没咱家的钕铁硼磁体，比废铁强不了多少。 美国不是没想过反击，特朗普放话说要冻结中国在美资产，可打开账本一看——中国早把美企投资换成德国工厂、巴西铁矿、非洲锂矿，现在轮到美国企业 睡不着觉了：特斯拉上海工厂用的国产芯片，苹果生产线迁到了越南，华尔街大佬们集体上书白宫"别再玩火了"。 特朗普政府现在像极了赌桌上的红眼赌徒——美债规模突破36万亿美元上限，8月到期的2.5万亿美元债务连利息都快付不起。 国会两党还在 ...