Dominant dollar price, bad news everywhere... Will a 'dollar swap' be countered?

<Anchor>

So far, I will organize the contents with reporter Im Tae-woo of the Ministry of Economy.

[Reporter Im Tae-woo: Yes.

The situation you are talking about is the background to the dominance of the dollar.

In a difficult situation in China, Europe, and the global economy, the only thing to believe in is the dollar.

Right now, Japan and Europe are hesitant to raise interest rates for fear of pouring cold water on the economy.

As there is no competitor to stop the dominance of the dollar, the dollar's strength is expected to last for a long time.]

[Reporter Im Tae-woo: Right now, only the dollar is strong and the exchange rates of other countries are weak.

That we are no better than our competitors in this export.

Conversely, only import prices are rising.

Now, even if the same quantity is imported, only import prices are rising, so it is highly likely that only domestic prices will be stimulated.]

[Reporter Im Tae-woo: The effect of the original dollar swap is that you can borrow dollars when you need them, stabilizing the exchange rate and preventing financial instability.

However, the problem is that it is not clear why the US should do it, and when Korea says that it has signed a dollar swap, on the other hand, the Korean economy is at risk.

Therefore, it is difficult to criticize that we have to approach it cautiously.]

[Reporter Im Tae-woo: Yes.

Just like Correspondent Kim Ji-sung's story, it is true that such a situation has arisen due to the corona lockdown.

However, there are many observations that the Chinese economy will not be able to revive immediately even if the corona improves.

After one stumble, consumption fell sharply, and in particular, finance, real estate and construction, which were the major pillars of the Chinese economy, were hit hard.

Therefore, there are many voices that we should prepare for a situation in which the Chinese recession may be longer than expected.]