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Much of the globalized system is dependent upon US institutions which currently dont have a substitute. BRICs have been trying to substitute for some of them a
by pydry 2y ago
Much of the globalized system is dependent upon US institutions which currently dont have a substitute.
BRICs have been trying to substitute for some of them and have made some nonzero progress but theyre still far, far away from stuff like a reserve currency.
- nemo44x 2y agoYeah you need a global navy that can assure the safe passage of thousands of ships daily. Now, how do you ensure that said navy will protect your interests? Nothing is free.