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“The worst enemy of the dollar is the United States,” says former IMF director

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 12/11/2026, 17:56:24 UTC.

Briefings

Brazilian economist Paulo Nogueira Batista Jr. stated that the US dollar faces few international competitors but has the United States as its primary rival. He noted that while the euro offers some competition, smaller Western currencies like the Australian or Canadian dollar cannot fill the gap. Kathleen Tyson, co-host, confirmed that US dollar financing costs 5% versus 1.85% for renminbi, making the latter attractive for non-Chinese entities. Tyson also highlighted that US dollar value has fallen against gold, prompting gold revaluation. The article was published on November 12, 2026, during a panel discussion at Web Summit in Lisbon.

Key points

• Brazilian economist Paulo Nogueira Batista Jr. identified the United States as the primary rival of the US dollar, asserting that other Western currencies cannot effectively compete due to their smaller size.
• Kathleen Tyson, co-host, confirmed that US dollar financing costs 5% while renminbi financing costs 1.85%, making the latter more attractive for non-Chinese entities to use.

Context

The article was published on November 12, 2026, during a panel discussion at Web Summit in Lisbon featuring Paulo Nogueira Batista Jr. and Kathleen Tyson. The discussion focused on global currency dynamics, specifically the US dollar's dominance and the emerging role of the renminbi, with insights from the BRICS context and US Treasury Secretary Scott Bessent.

Limitations

The evidence is limited to a single panel discussion at Web Summit in Lisbon on November 12, 2026. The article does not contain data on specific market volumes, historical exchange rates, or long-term forecasts beyond the stated 5% vs 1.85% financing cost figures. The author's specific assessment of the euro's competitive potential remains unverified in this text.

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