America will lose its position as global economic power in 10 years

The Chairman of the Financial Market Committee of the Russian State Duma further noted that the domestic problems of the United States also make people frustrated.

According to Russia, the US share in world trade has dropped to about 70%. (Source: AFP)

In an interview with Izvestia news agency at the St. Petersburg International Economic Forum (SPIEF) 2023 last week, Chairman of the Financial Market Committee of the Russian State Duma (Lower House of Parliament) Anatoly Aksakov said that the US will lose its position as a global economic power in 10 years.

“We see that the US share of world trade has fallen to about 70%, partly because of the sanctions on Russia that have eroded confidence in the dollar,” the official said.

According to Mr. Aksakov, previously, 70% of international trade transactions were conducted in the greenback, now this ratio is only 60%, and emphasized: "Losing 10% in just a short period of time - this is very important. This process will continue, because the US erodes the trust of partners".

Noting that America's domestic problems also frustrate people, the Russian representative said: "The gross domestic product (GDP) that the United States generates is less than the debts it accumulates. Meanwhile, Washington continues to borrow all over the world and repays it by accumulating domestic debt."

Source: https://baoquocte.vn/nga-my-se-mat-vi-the-cuong-quoc-kinh-te-toan-cau-trong-10-nam-nua-231560.html