China and Russia are spearheading efforts to create a new financial order that could shift the balance of economic power away from the West. Both countries have found common ground in challenging the dominance of the U.S.
China and Russia are spearheading efforts to create a new financial order that could shift the balance of economic power away from the West. Both countries have found common ground in challenging the dominance of the U.S.
I’ll give you an upvote, regardless of your intentions.
This will fail miserably, but it’s a concern that people should pay attention to. The source of monetary currency in the world unfortunately controls the flow of money.
If China hits a point where it overtakes the US, it might fragment the global banking systems with some countries standardized one currency vs another.
The problem there is that the US at least has an open policy in dealing with these systems, where China will 100% not. It’s a big fucking problem. The current system prioritizes fast flow of currency, whereas a CCP system would be about control and favors. You can’t participate if you don’t do favors or otherwise bend to allegiance.
All countries would be trading in their own local currency, there would not be one dominant currency controlling everything, nor 1 country controlling monetary policy. Unlike now, all international trading is done via US dollar.