Commentary: The US dollar's supremacy is waning. So will America’s influence

The dollar and the US is not immune to the same kind of progressive degeneration suffered by the pound sterling and the UK in the 20th century, says Professor Benjamin J Cohen. SANTA BARBARA, California: With the onset of the COVID-19 crisis, the United States seems to have developed a severe case of what psychologists call dissociative identity disorder: it is simultaneously projecting two distinct personalities. On the one hand, the US Federal Reserve has responsibly assumed a leadership role in international finance, as it did during the 2008 global financial crisis.
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