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Comment on US Trade Dominance Will Soon Begin to Crack

Oh I absolutely expected USA to be surpassed by China at some point. And for USA to gradually lose international dominance.
But the shit USA is making for itself is turbocharging that process by at least a factor 10.
Some might say it doesn’t really make much difference because the end result remains the same. But the problem is that this doesn’t give the world the same amount of time to adjust. Disruption is generally bad, and disruption of world power is no exception.
Of course the worst disruption is to USA, and that will have a serious negative impact on American business, and if the US dollar loses the position as the world reserve currency, the significance of the American debt will be way more serious.

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garretble@lemmy.world ⁨12⁩ ⁨hours⁩ ago
We always heard that this would be China’s century, and for the most part I assumed “maayybe. We’ll see. It’d take a while for the US to decline.”

Little did I know the US would very quickly shoot both its feet off on its own.

I thought that if China were to become the dominant country it’d be through years and years of steady growth while the US was doing the same. They’d just end up overtaking in the long run — not that the US would actively sabotage itself via bigotry and stupidity and greed.

Complete self own. And everyone in charge is a giant coward. We could start righting the ship today, but all the elected gop (and some dem) officials are greedy cowards.

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- WanderingThoughts@europe.pub ⁨11⁩ ⁨hours⁩ ago
  It feels like the elite are doing one last big haul before they’re out of there, looking for new regions to exploit.
  
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arrow74@lemmy.zip ⁨9⁩ ⁨hours⁩ ago
Unless the EU gets rapidly closer to China I doubt it. We’ll probably see the general Euro Zone vs. China for the century.

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IronBird@lemmy.world ⁨12⁩ ⁨hours⁩ ago
biggest thing for the rest of the world is the sovereign debt crisis. greece nearly drug down the EU when theirs popped off and their entire economy is just sxporting crude and ripping off the occasional tourist.

USD is the cornerstone to the entire western financial system, not to mention international trade as a whole…

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- Buffalox@lemmy.world ⁨12⁩ ⁨hours⁩ ago
  
  greece nearly drug down the EU when theirs popped off,
  
  Erh no! Don’t trust the sensationalist stories about the Euro collapsing for this or that reason. Those stories are always without merit, my guess is they serve a purpose for speculation or are just sensationalist stories.
  
  USD is the cornerstone to the entire western financial system
  
  What are you smoking? It doesn’t make a hoot of difference to the rest of the world to trade in another currency. But more likely than not, it won’t be a single currency replacing USD, it will be a basket of currencies where USD will probably be a part.
  
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  - IronBird@lemmy.world ⁨12⁩ ⁨hours⁩ ago
    there’s so much wealth/debt obligations tied up in USD, your the one smoking something if you think a US sovereign debt crisis finally popping off doesn’t drag a large chunk of west down with it.
    
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