I have a minute knowledge of the global economy but what I do believe is that the shift away from the dollar is a gradual process and is unlikely to happen overnight. The dollar still remains the most widely used currency for international trade and financial transactions, and the US economy remains the largest in the world.
RE: The American allies are turning their backs on them?
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The American allies are turning their backs on them?
It is a reality, no economic change happens overnight, much less when we talk about macroeconomics.
But what is certain is that the dollar is no longer as strong as before, to a great extent it lost a good part of the transactions made in China, because this same country is doing what is necessary for its currency to be the one used for international trade and not the dollar, we are talking about the country with the second largest population in the world, as well as the second most powerful economy.
If we see that some of the Latin American countries are also accepting to trade with Yuan and not with dollar, it is another hard blow, and yesterday, the president of Fra cia gave hard statements regarding this issue. After a meeting with the Chinese president. So, indeed, for now the US is still the most powerful country, but even the Roman empire, after hundreds of years of power, fell.
Thanks for commenting.
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