2022-09-04 | 03:33
The Russian economist, Anton Tabagh, stated that the current system of monetary relations and trade settlements has been in crisis for a long time, but recent geopolitical events may take another dimension and form.
"The current financial system has deteriorated for a long time. The stagnation in the volume of trade exchange and freedom of trade has worsened since 2012, and the financial system is collapsing due to the requirements of regulators and the fight against money laundering, and more recently also because of sanctions. Taking into account the Taking into account recent events outside the financial sphere, this process could take another full-fledged form."
The economist expressed confidence that the new system is in the process of taking shape.
“If you look at history, something similar happened already in the second half of the nineteenth century, when currency blocks and customs unions were created, restrictions and fees were imposed on transactions outside these blocks and unions. Now we are seeing this at a new stage and a new technological level,” he said.