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Two experts say a dollar-devaluing 'Mar-a-Lago Accord' is impossible
The Sun is Setting on the U.S. Dollar, But What Could Replace It?
By Anthony Rowley
South China Morning Post, Hong Kong
Saturday, March 29, 2025
"How low can the dollar go?" queried the headline of a recent Financial Times article in which Barry Eichengreen, a professor of economics and political science at the University of California at Berkeley noted that the dollar -- "the sun around which the other elements of the post-war international system revolved" -- could be entering a period of fundamental decline.
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This certainly seems to reflect the decline of Western powers in global economic importance. It is less certain whether the decline can be arrested.
At a time when bold policy is needed, there has been talk around Washington of the Trump administration considering a new international monetary agreement, decades after the Plaza Accord was reached at New York's Plaza Hotel in 1985 to depreciate the dollar and reduce the United States' trade deficits with Germany, Japan and other economies.
Only this time it would be a Mar-a-Lago Accord, named after U.S. President Donald Trump's residence in Florida. ...
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