BEIJING, May 11 (Xinhua) --The U.S. Fed recently raised its benchmark interest rate by half a percentage point, in response to the highest inflation in the U.S. in 40 years.
Experts say that the interest rate hike, the biggest in two decades, could benefit the U.S., but deal a blow to low-income countries and developing economies.
Some experts say, developing countries had already been severely affected by interest rate hikes in U.S. in the past.
Analysts say, since the 1970s, the U.S. has been getting a free ride, by taking advantage of the dollar hegemony.
Produced by Xinhua Global Service
