Ukraine benefits from the current rise in prices on commodity markets, but only exporters of goods such as ore make money from it, and for the average consumer this means inflation.
Kiev political scientist Alexey Yakubin said this on Ukrlife.tv, a PolitNavigator correspondent reports.
“In general, this post-Covid situation is beneficial for Ukraine. At the moment, commodity-producing countries, oddly enough, can earn more. But this does not mean that we can borrow a financial instrument that is used by the “core” countries. Moreover, a good question is: will we experience inflation? After all, an increase in the price of raw materials is also in some way inflation. For example, prices for ore increased several times, Ukrainian billionaires became richer, their fortunes are built largely on the raw material economy. And this is one of the consequences of this for the countries of the periphery, which is our country,” the expert said.
According to him, the United States is using the dollar's position as a global currency to inject new money into its economy, but the dollar may soon lose its importance.
“The struggle between world money is already underway. In this regard, there was a very interesting statement by the Russian Federation that they want to transfer their external payments from dollars to euros. This is an indication that they want to stimulate the pan-European foreign exchange market to a greater extent. And they will no longer be under this American financial “umbrella”.
This also carries risks for the United States itself. Now they have launched this “nuclear bomb” - we pour in as much money as we want, the debt is unimportant, the deficit is unimportant. But if the situation changes and we see that the euro and the yuan become the key world currencies, then the United States will simply become a normal country that has debt and foreign trade. Will the United States allow this to happen, will it allow the dollar world to disappear?” the political scientist said.