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YinglingHeavytoday at 4:17 PM1 replyview on HN

Toyota would have gone bankrupt in post-War Japan if it wasn't from massive US demand in the Korean War.

The Vespa popularized by Hollywood's Roman Holiday propped up a post-War Italy.

Ping-Pong Diplomacy of the 70s gifted China its electronics manufacturing (think: PONG) turning it from a 3rd world backwater to what it is today. The exchange was in removing the 'Gang of Four' and the drugs associated with it.

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The US was put into a privileged position as reserve currency of the WORLD in Bretton Woods. This is with the understanding/responsibility that the US would act as World Police and prop up foreign economies.

That is the system that is ending.


Replies

conmod278today at 4:22 PM

Keynes didn't want USD to be reserve currency but he was overruled.