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This week on The Econoclasts, Yanis Varoufakis and Wolfgang Munchau debunk two more establishment orthodoxies. First, Yanis challenges the widespread belief that China is actively trying to dethrone the US dollar as the world’s reserve currency, arguing that while Beijing wants independence from US sanction power, it is strongly opposed to the idea of taking on the burden of the reserve currency. And second, Wolfgang debunks the “cordon sanitaire”, or “firewall” orthodoxy that European centrist parties must never form coalitions with the far-Right, exposing how this failed tactic forces centrists into permanent coalitions that deliver only stagnation and ultimately guarantees the rise of far-Right parties
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