Re:Global capital is the tail that wags the U.S. economic dog
by patfla on Friday October 02, 2020 @12:05PM
(#24664004)
The dollar's status as the world's reserve currency allows the US to consume at a rate that wouldn't otherwise be possible. All the trade surplus countries want that to continue.
Losing that status, or changing the institutional structure in ways that undermine it, would cause huge, wrenching changes in the US but might be for the best. But again, the surplus countries really don't want that. For Germany, Japan and China these are actually the best of times - at least economically.
Losing that status, or changing the institutional structure in ways that undermine it, would cause huge, wrenching changes in the US but might be for the best. But again, the surplus countries really don't want that. For Germany, Japan and China these are actually the best of times - at least economically.