Even as early as 1965, Valéry Giscard d’Estaing, the then French finance minister, had complained about the “exorbitant privilege”, a phrase he coined, to describe the massive advantage the US derives from the dollar’s hegemony of international finance. The year 1965 was, of course, when the Bretton Woods currency framework was still in place. Bretton Woods, a gold parity-based, fixed exchange rate system, had the US dollar, which was fully convertible to gold at US$35 per ounce, as its reserve currency.

MySay: Trump’s tariff tantrums necessitate a global alternative to the US dollar

Now that Trump 2.0 is in place, and with the kind of people being proposed for his cabinet, all the campaign threats of action against China and Asian exporters may be turning from rhetoric to reality. When surrounded by people who believe China poses an existential threat to the US, and have said as much, the groupthink is dangerous and unhelpful to a world already fraught with so many geopolitical flashpoints.

MySay: Trumpian turmoil: Asia’s developing nations risk being collateral damage

At a basic level, a nation’s economy is really made up of two parts, the real sector and the financial sector. The real sector constitutes all of a nation’s production capabilities, which then results in the nation’s production of goods and services. The financial sector, which consists of the ba...

My Say: Bitcoin ETFs: Another case of unchecked financialisation that could end in tears for all

The Covid-19 pandemic may have necessitated huge deficit spending by governments, but even as the pandemic has ebbed, global debt has continued to balloon. Now totalling US$307 trillion (RM1.4 quadrillion), global debt is 336% of world gross domestic product, having increased by US$100 trillion i...

My Say: In a level playing field, risk-sharing contracts of Islamic finance can be a game changer

There was a time in the 1960s when, following many years of very impressive growth, the bet was on the Soviet Union overtaking the US to become the world’s largest economy. But Soviet central planning could never deliver the goods and so the USSR fell behind economically and later disintegrated p...

My Say: China needs to avoid being the next Japan

Of late there has been much hand wringing about the performance of the Malaysian ringgit. The ringgit’s depreciation has been steady and sustained against several key currencies, in particular the US dollar. Indeed, there is cause for concern as exchange rates do matter for the long-term well-bei...

My Say: Exchange rates matter for long-term wage growth, productivity and national well-being

De-dollarising seems to be in vogue these days. China, Russia and their BRICS (Brazil, Russia, India, China and South Africa) partners may have initiated the narrative but the desire to remove or at least reduce the US dollar’s hegemony has spread. Many nations, including Malaysia, have openly ar...

My Say: Regional currency arrangements come with huge challenges

What a month March had been. Over a three-week period, four mid-size US banks had to be rescued and one large Swiss bank had to be folded into another. Meanwhile, a German bank had to suffer serious erosion of its equity value.

My Say: The Fed dodges a bullet — for now

It was the Ricardian theory of comparative advantage that provided the rationale for why nations should trade among themselves and how it can be beneficial to all. Steady growth in trade led to increased economic integration between countries and the resulting globalisation. 

The p...

My Say: Widening distrust of globalisation could herald economic fragmentation

For at least the last two decades, a presence in China was seen by Western firms as a distinct competitive advantage over their peers. Now, all that seems to be changing. American and European suspicion of China has been rising as China seeks to control its technological destiny. For as long as C...

My Say: Emerging markets can benefit as the West decouples from China

Chinese President Xi Jinping is seeking to paint China as a steady partner to investors roiled by a global trade war. A spat over a shipping lane coveted by US President Donald Trump is testing that push.

Xi's showdown with Li Ka-shing threatens China’s pro-business push

The Trump family is set to launch a bitcoin mining-focused venture with Hut 8 Corp, the latest expansion of the US president’s ties to the cryptocurrency sector.

Trump family to launch US bitcoin mining venture with Hut 8

Renault SA and Nissan Motor Co agreed to further loosen their long-term alliance, paving the way for more share sales as the Japanese automaker remains under pressure to shore up its finances.

Renault, Nissan back more share sales in alliance loosening

The UK is expecting to be impacted by US tariffs this week, even as intensive talks continue to secure an exemption for British goods, Prime Minister Keir Starmer’s office said.

UK expects to be hit by US tariffs this week as talks continue

Chinese President Xi Jinping is reportedly planning a three-country tour in April, which will include a three-day visit to Malaysia, the South China Morning Post (SCMP) reported.

China's Xi to visit Malaysia in April, SCMP reports

French far-right leader Marine Le Pen was convicted of embezzlement on Monday, and handed an immediate five-year ban from public office, a sentence that will bar her from running in the 2027 presidential race unless she successfully appeals beforehand.

France's Le Pen barred from running for office for five years after graft conviction

The report on the fatal incident involving a visually impaired man who was run over by a train after falling onto the Titiwangsa Light Rail Transit (LRT) tracks on Feb 22 has been submitted to the Ministry of Transport (MOT) and the Land Public Transport Agency.

Report on fatal Titiwangsa LRT accident submitted to MOT, says Prasarana

Main Market-listed energy solutions provider T7 Global Bhd (KL:T7GLOBAL) announces that Tan Sri Tan Kean Soon has tendered his resignation as the executive deputy chairman from the group with immediate effect, citing personal reasons.

Tan Kean Soon steps down as T7 Global executive deputy chairman, board says no operational impact

People were pulled alive out of rubble in Myanmar and signs of life were detected in the ruins of a skyscraper in Bangkok on Monday as efforts intensified to find survivors three days after a massive earthquake that killed around 2,000.

Myanmar rescues, sign of life in Bangkok rubble raise hopes after deadly quake

Thailand’s economic outlook is worsening after the deadly Myanmar earthquake last Friday, adding to pressure for another interest rate cut next month to support the sluggish economy, according to analysts.

Thai outlook dims after quake, raising chance of rate cut

Main Market-listed energy solutions provider T7 Global Bhd (KL:T7GLOBAL) announces that Tan Sri Tan Kean Soon has tendered his resignation as the executive deputy chairman from the group with immediate effect, citing personal reasons.

Huawei Technologies Co&nbsp;posted its first quarterly net loss in years after the company spent aggressively on research in areas from electric vehicles (EVs) to chips while the business as a whole slowed.

Huawei posts surprise loss after aggressive tech research

Chinese President Xi Jinping is reportedly planning a three-country tour in April, which will include a three-day visit to Malaysia, the&nbsp;South China Morning Post (SCMP)&nbsp;reported.

An anti-corruption watchdog had flagged irregularities in the construction of a Bangkok skyscraper that collapsed in an earthquake last week and killed at least 11 people, the head of the monitoring group told Reuters.

Thai watchdog had flagged concerns over building that collapsed in earthquake, Reuters told

The report on the fatal incident involving a visually impaired man who was run over by a train after falling onto the Titiwangsa Light Rail Transit (LRT) tracks on Feb&nbsp;22 has been submitted to the Ministry of Transport (MOT) and the Land Public Transport Agency.

Elon Musk acknowledged that his job as the head of US President Donald Trump’s effort to cut the size of government is “costing me a lot” when it comes to his other big job&nbsp;as the chief executive officer of Tesla Inc.

Musk admits DOGE role is costing him as Tesla shares slump

French far-right&nbsp;leader Marine&nbsp;Le&nbsp;Pen&nbsp;was convicted of embezzlement on Monday, and handed an immediate five-year ban from public office, a sentence that will bar her from running in the 2027 presidential race unless she successfully appeals beforehand.

The Trump family is set to launch a bitcoin mining-focused venture with Hut 8 Corp, the latest expansion of the US president’s ties to the cryptocurrency sector.

People were pulled alive out of rubble in&nbsp;Myanmar&nbsp;and signs of life were detected in the ruins of a skyscraper in Bangkok on Monday as efforts intensified to find survivors three&nbsp;days after a&nbsp;massive earthquake&nbsp;that killed around 2,000.

Thailand’s economic outlook is worsening after the deadly Myanmar earthquake last Friday, adding to pressure for another interest rate cut next month to support the sluggish economy, according to analysts.

THE ringgit’s outperformance among Asian currencies last year may be harder to repeat this year, with some currency traders weighing the possibility of Bank Negara Malaysia trimming interest rates to bolster growth dragged lower by US-led retaliatory tariffs. That is despite a consensus still fir...

The State of the Nation: Ringgit watchers weigh odds of Fed rate and OPR cuts in 2025 

Renault SA and Nissan Motor Co&nbsp;agreed to further loosen their long-term alliance, paving the way for more share sales as the Japanese automaker remains under pressure to shore up its finances.

Wall Street forecasters are sounding the alarm on US equities just days before US President Donald Trump’s tariff deadline, with Goldman Sachs Group Inc’s David Kostin cutting his S&amp;P 500 target for a&nbsp;second time&nbsp;this month.

Goldman’s Kostin slashes S&P 500 target again on growth risk

CoreNet Global, a US-based non-profit association for corporate real estate professionals headquartered in Atlanta, Georgia, has appointed a new CEO to lead the organisation. CoreNet Global represents nearly 10,000 members in 50 countries, including Malaysia, with strategic responsibility for the...

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