Ironically, nobody at the Paris summit questioned the current monetary system, which is at the root of the debt problem. If this materializes, the international monetary system may change significantly. The current monetary system was established in 1971. What are the potential consequences of the Russia-Ukraine war for the monetary system? The crux of the matter is: how far would the United States go to preserve the current monetary system, from which it benefits enormously?

Source: Manila Times July 26, 2023 17:10 UTC