Joshi comments

Posted in: The U.S. dollar’s appreciation is bad news for the global economy. Do you agree? See in context

If the US wants to maintain its role as the global currency, it needs to have a pro-globe policy by printing more US dollars even if that's bad for inflation in the US, otherwise it needs to support the creation of a new global currency. The irony is that all essential goods imports into the US are already priced in US dollars so do not get cheapened by the strong dollar, whereas the imports that are cheapened will only be helpful to wealthier people who don't care about the small price differences anyway. A strong USD is actually harmful for self-sufficient countries like the US, but not for the import-heavy countries like the UK or Australia.

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