Global Market Outlook and The Acceleration of De-Dollarisation by James Chin

China’s reopening story fizzled out with the Hang Seng Index slipping into bear market and the Chinese yuan fell to its lowest level in 16 years in August 2023 with the second largest economy in the world facing a deep real estate crisis threatening the possibility of a systematic risk happening. To make things worse, not only growth is stalling, consumer prices are also falling and the youth unemployment has risen so much that the Chinese government decided to stop publishing this data.

Globally, core inflation remains stubbornly high in many parts of the world and is one of the key economic data hurting global growth and with China slowing down, is there going to be a global recession in 2024?

In 1974, Saudi Arabia priced its oil exclusively in US dollars in exchange for security guarantees from the United States. This petro-link is one of the pillars on which the US dollar rests as the world’s primary reserve currency today. During the 2023 World Economic Forum in Davos, Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, stunned reporters when he expressed that the oil-rich nation was open to trading in currencies beside the U.S. dollar for the first time in 48 years. Is this the beginning of de-dollarisation?

This course will analyse key global economic data and the consequences of a global economic slowdown on various countries and asset class besides analysing the possibility of de-dollarisation.

Learning Outcome