Scenarios about 'petrodollars'
The system of international oil trade conducted primarily in US dollars, established after the 1973 agreement between the United States and Saudi Arabia. This arrangement requires countries to maintain dollar reserves to purchase oil, providing significant economic advantages to the US by creating artificial demand for dollars and allowing it to run larger deficits. Petrodollars have profoundly shaped global economic power structures, oil-producing nations' wealth, and international monetary policy since the collapse of the Bretton Woods system.
What If The International Debt Crisis of The 1980s Never Occurred?
Exploring the alternate timeline where developing nations avoided the devastating debt crisis of the 1980s, potentially transforming global economic development and North-South relations for decades to come.