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This is not different at all from the situation of the pound sterling at the beginning of the 20th century. Of course it is easier to deal with US dollars, this
by coliveira 9y ago
This is not different at all from the situation of the pound sterling at the beginning of the 20th century. Of course it is easier to deal with US dollars, this doesn't mean anything for the health of this currency in the long term.
- JumpCrisscross 9y ago> This is not different at all from the situation of the pound sterling at the beginning of the 20th century Nothing is permanent. My point is arguing (a) S&P cut China’s credit rating to defend dollar hegemony is absurd on multiple levels.