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Always bet on Javascript and the dollar. https://www.nakedcapitalism.com/2024/06/dollar-doomsters-have-got-it-all-wrong.html https://www.nakedcapitalism.com/20

• aylmao 2y ago
  I mean, the conclusion of this post isn't precisely claiming a USD victory: > So at this point, the most likely next regime is of fragmentation, of multiple major currencies used for trade and investment rather than a dominant currency. [...] So this remains an unsettled area. Stay tuned. And I agree. I don't think the Renminbi will necessarily take over, but I also don't think the dollar will maintain the strong dominance it has on global trade and as a reserve currency.
  • hackandthink 2y ago
    Noah Smith agrees as well: "I’ve argued that dollar-euro financial hegemony won’t be replaced as a result of these sanctions, simply because none of the alternatives is ready to replace it. But ..." https://www.noahpinion.blog/p/dont-worry-about-de-dollarization https://www.noahpinion.blog/p/dont-worry-about-de-dollarizat... I think the system is stable instable: Dollar Inflation will continue. China will continue to have problems investing its trade surpluses sensibly. Western policy towards Russia and China will become even more hostile, but it will not come to a big bang. At some point, we will realize that we have to solve the problems together, perhaps the Bancor will be introduced after all.