In 1971 John Connally, then the American treasury secretary, informed his European counterparts that the greenback was “our forex, however your downside”. Over the next half-century the worldwide economic system has remodeled, however Connally’s adage nonetheless rings true: regardless that the worth of the greenback stays largely set by home developments in America, its swings nearly at all times ship ripples the world over. One such huge swing could also be on the playing cards, because the financial insurance policies promised by Donald Trump, America’s president-elect, look set to turbocharge the buck. That spells bother for progress in the remainder of the world.
