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See, this assumes that free trade is the norm and autarky isn’t. We are all supposedly interdependent it is said, but it could very easily become a scenario whe
by 0x8BADF00D 7y ago
See, this assumes that free trade is the norm and autarky isn’t. We are all supposedly interdependent it is said, but it could very easily become a scenario where everyone closes their economies.
Heck, they’re already doing that now with COVID-19. Then there’s no need for the dollar as a reserve currency. Not saying this will happen but it is a possibility. The real test is if Trump will impose tariffs on foreign oil. Other countries may retaliate on other goods and it quickly spirals from free trade to autarky.