Currency swaps in focus amid geopolitical tensions
Just read that US Treasury Secretary Bessent says Gulf and Asian allies have asked for currency swap lines from the US, citing energy shocks and fallout from the US-Israel war on Iran. He argues these swaps (like a $20bn one for Argentina last year) stabilize markets and benefit both sides, denying links to Trump family's UAE business ties. Critics worry about costs to US consumers and potential conflicts of interest. Interesting how financial tools become geopolitical chess pieces.
https://www.aljazeera.com/econ