World faces a crisis of confidence in dollar

World faces a crisis of confidence in dollar

The level of the world's confidence in dollar continues to decline, which hurts the existing international financial system, National University of Singapore politics professor Huang Jing said on the sidelines of the Asian Economic Forum in Boao.

"Right now we're facing a problem: confidence in the dollar declines, which can radically affect the stability of global financial system," he said.

The expert described this problem as a crisis of confidence in American currency.

He explained that this alarming trend appeared in 2008, during the global financial crisis, for the first time since Richard Nixon's presidency.

"We don't know if the dollar will collapse in the end," he noted.

"Personally, I believe President Donald Trump won't resolve this problem," he concluded.

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