pam on Nostr: Agreed on a few things, maybe not all. The control over dollar dominance allows some ...
Agreed on a few things, maybe not all. The control over dollar dominance allows some form of puppetry re Asian Financial Crisis. One reason why SEA won't be heavily impacted by the oncoming recession would be because of its lack of dependence on the US based on currencies that are no longer pegged, fair trade in nature, and in reality, trade with China is about 3x more than US. But despite heavier trade with this side of the world, 80% global currency exchange is still in USD so when recession does hit, it may not seem fair to everyone. India and China are not at the brink of war with each other lah :) border issues happens everywhere. Ironically, during the great depression, having control over gold (by forcing people to give their gold to the gov't) as currency was pegged to it, allowed gov'ts to devalue the currency and enhance export and increase local manufacturing. I agree in that sense that if US wants to compete head on, then they've got to really focus on development and growth instead of playing power house on other countries. I'm generally not for any hegemony power hence why I think bitcoin as global currency will solve a lot of problems
Published at
2023-06-04 23:49:43Event JSON
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