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You have some good points on your list, but there are also vast misunderstandings and you clearly have preconceptions of what is 'best' based on your own prefer
by nelaboras 6y ago
You have some good points on your list, but there are also vast misunderstandings and you clearly have preconceptions of what is 'best' based on your own preferences. To just mention a few
- the RMB is indeed in use in a number of Asian countries as an informal second currency.
- USD as global reserve currency is strong but on a downward trend. In some parts of the world the Euro has become more important and the largest holder of USD is China. If they truly wanted to harm the US they could dump these in big tranches - without this unique advantage a lot of US politics (in particular the eternal debt growth) simply don't work any longer.
- from a European perspective I have to say it does not look like the US is very democratic. A two-party state effectively run by the wealthy for their own profit, with a hundred million in an economically precarious condition with not even real access to healthcare.
I do think the last years have shown that the US too is extremely fragile, just as you diagnose for the PRC.