alt Hacker NewsI usually read piaeces like this as bullish for the US .. the truth is .. neither the author nor anyone else can really call how this plays out .. but what is clear (and f***g obvious) is that there’s still no country as economically dynamic or creative as the US .. and if not the dollar .. then what realistically takes its place ... the euro, RMB, rupee? None come close yet in terms of depth, liquidity, or trust ... these type of de dollarization makes for an interesting news cycle and discussion, but it’s a super long road from theory to reality ..
In the short run, I agree.
But what I do worry about are the long term consequences of US behavior. Even the largest empires aren't on top forever (even before Trump, China was investing heavily in tech and has made significant inroads. India is developing, too. Who knows?). There may be no country as economically powerful today, but tomorrow is a new day. These shifts don't happen in the short term, but over decades, this could be a big problem for the US if our approach continues this way.
A business goes bankrupt slowly, then all at once. I worry that we are speed running the "slowly" part of our journey.