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> Not to mention that there is no other currency out there to be the global reserve currency. This is accurate. However, let's not fool ourselves. Having a sin
by nine_zeros 7y ago
> Not to mention that there is no other currency out there to be the global reserve currency.
This is accurate. However, let's not fool ourselves. Having a single large reserve currency is not the only trading solution out there.
Most countries in close proximity, like south east asian countries for example, can easily trade in their local currencies. In fact, the more that China becomes the biggest importer of goods in Asia, the more irrelevant the dollar would become.
- mooreds 7y agoThis is a strong argument. Do we need one global reserve currency, especially as we retreat from a global trading system? (Or at least from a global trading regulator, the WTO.) For more on that, this is an excellent read: https://www.worldcat.org/title/absent-superpower-the-shale-revolution-and-a-world-without-america/oclc/970659463 https://www.worldcat.org/title/absent-superpower-the-shale-r...