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Until there is a politically stable alternative, the Dollar will rule. Nobody trusts China, even the Chinese. The Euro? Only a few years ago pundits were procla
by mannyv 3y ago
Until there is a politically stable alternative, the Dollar will rule. Nobody trusts China, even the Chinese. The Euro? Only a few years ago pundits were proclaiming its death. The Pound? Nope.
The US is willing to go to incredible lengths to prop up the world financial system. No other country is willing or able to do that, including China.
- nine_k 3y ago«The U.S. has a comparative advantage as a safe financial haven. We have the world’s strongest military and a stable government. Thus, we have a comparative advantage in producing debt, primarily government debt.» (Arnold Kling somewhere online.)