The Economies Of The Countries in The South are Destroyed By America’s Sanctions and Expensive Dollars

  

The Economies Of The Countries in The South are Destroyed By America’s Sanctions and Expensive Dollars

 Mujeeb Khan

 

India's central bank urges lenders to de-dollarize trade with the UAE using local currency

 The leaders of India have made an agreement to trade in Indian currency with the United Arab Emirates thinking of the long-term benefits of it. India has bought one million barrels of oil from the UAE and paid for it in Indian currency. Indian jewelers are also buying gold from the UAE in Indian currency. In this way, the dependence of the Indian businessman on the dollar will be reduced. The Indian exporters who will sell the goods to the UAE will also be paid in Indian currency. That is the plane that will go to UAE with Indian currency, and the same plane will return to Delhi with Indian currency for Indian exporters. If other Gulf countries join India in a similar trade agreement, it will strengthen India’s currency. Saudi Arabia has agreed to pay for its oil in Chinese currency. The trend of trading in regional and other currencies is increasing. Latin countries have also decided to trade in their own currencies in the region strong dollars hurt their economy. In addition, economic sanctions on countless countries in the world of the United States also sabotage the economies of other countries. No country can trade with countries where the US has economic sanctions. A country with which there is a dispute with the United States but is punished by every country in the world. That is why regional countries see the solution to trade in regional currency. The US dollar has declined by 30% in global trade over the past few years.

  A strong dollar increases the prices of local and imported goods in developing countries. In many countries, businesses have closed because of the expensive dollar. Pakistan is one of those countries where the prices have skyrocketed due to the dollar being 300 Rupee, which is beyond the purchasing power of the people. Shopkeepers in Pakistan also sell local chicken eggs by converting them into dollars, a dozen eggs cost Rs 3200 in local currency. Imports and exports have become expensive with the dollar being expensive. Pakistan’s Finance Minister Ishaq Dar is of reverse logic, he believes in keeping Pakistan’s currency weak and the dollar expensive, and the gap between the currencies is done by printing more Pakistani currency. In Pakistan’s neighbor India, the Indian currency is tightly protected from falling against the dollar. That is why commodities are not so expensive in India as compared to Pakistan. If in Pakistan the Rupee is 100 against a dollar, its amazing effects will be seen in the economy. The inflation graph will come down, but it takes genius thinking which is lacking in Pakistan. There is a country that cannot decide in six months when and how to hold elections. However, in every country, elections are held when the constitution says so. It is not discussed again and again. It is written in the Constitution of the United States that the election shall be held every four years on the first Tuesday of November. Elections are held on the same day in fifty US states. The problem in Pakistan is that if the leaders think that they will lose the election, then there will be no election, regardless of what the constitution says. There are fifty parties in Pakistan now and every party is sure that they will win the election it will be the date of their election. And until elections are held, the economy will not stabilize. The trap of inflation will remain on people’s necks. The leaders of Pakistan are totally corrupt, filthy self-interested, and opportunist.