How the US Is Using Swap Lines to Project Financial Power

When President Donald Trump disclosed in April that the US was considering offering the United Arab Emirates financial support through a currency swap line, observers in financial and policy circles were puzzled. Why would the UAE, one of the world’s wealthiest countries, suddenly need economic assistance? Were the discussions connected to the Iran war? Would a deal also benefit the US? And, for those unfamiliar with the esoteric financial tool, what in the world is a swap line?

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