Why does inflation in one country or continent affect the others. Why does it seem like the whole world is experiencing a global economic downturn all at once despite having different economies, different policies, different politics? Here's what I mean from these news headline
This is happening because the US decided to print a lot of dollars in a very small amount of time, most countries have their reserves on US dollars, so the moment the US did that they lost a great deal of their savings and they became victims as well, not only that, such move weakened the US dollar and gave it a competitive advantage over other currencies which meant more exports and less imports for the US, so those countries faced a choice, to accept this or to inflate their currencies as well in order to combat those effects, and you should know what path they took.