16:53 - 30.10.2024

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October 30, Fineko/abc.az. The US dollar will remain the world's leading currency for a long time to come - at least as long as the U.S. maintains its position as a technological leader, ABC.AZ reports, quoting economist Yevgeny Kogan.

Answering the question of whether the BRICS countries will be able to create a full-fledged alternative to the dollar as the main instrument of global investments, he said that this is unlikely to happen in the foreseeable future. In addition, the leadership position of the U.S. may become even stronger with development of artificial intelligence and quantum computers. Those countries that try to resist this will be sanctioned. However, as the U.S. dictates terms to everyone else, the world will look for an alternative to the dollar. And this will gradually appear.

Kogan did not rule out that the financial system of the future will be based on digital assets, which will also be backed by gold.

In addition, he noted that after World War II, the Western economy largely developed due to credit incentives for consumption. However, today this design has started to fail.