QOTD: Fading Breton Woods = Instability – Arminio Fraga

QOTD = Quote of the Day

…with the US less dominant and less willing to provide global economic and financial leadership, systemic instability is likely to increase. As the American economic historian Charles Kindleberger famously warned, this typically occurs in transitional moments when a global hegemon is absent. Some signs of this are already visible in trade and regional tensions, growing leverage, and rising nationalism.  – Arminio Fraga, Project Syndicate

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