America is a rancid and failed country. 99% of their population don’t see the empire crashing before their eyes, but the rest of the world has noticed and China will come out as the dominant fiat currency for decades
No one’s gonna have the prominence america had, relative to other countries. So a basket of currencies is possible, or even different currencies for different industries
America is a rancid and failed country. 99% of their population don’t see the empire crashing before their eyes, but the rest of the world has noticed and China will come out as the dominant fiat currency for decades
What about the Euro? That’s also a good contender for reserve currency. Maybe they won’t be one but 3 or 4
That raises a question - what’s better, easier commerce with a financial powerhouse, or easier commerce with the country that makes everything?
No one’s gonna have the prominence america had, relative to other countries. So a basket of currencies is possible, or even different currencies for different industries
Americans would sooner switch to Bitcoin than Chinese money.