The US dollar is the primary global reserve currency. A large - if shrinking - slice of global trade is conducted in US dollars without involving the US economy at all. The US dollar is also used in many countries alongside and/or instead of the n…
The US dollar is the primary global reserve currency. A large - if shrinking - slice of global trade is conducted in US dollars without involving the US economy at all. The US dollar is also used in many countries alongside and/or instead of the national currency. Many jurisdictions also operate US dollar pegs or boards. None of these dollars has to be spent in the US.
Not really. Saudi Arabia can sell their (shrinking) dollar revenue to buy anything anywhere. The days of threatening regime change are over. Riyadh is already accepting other currencies for oil and KSA is now a BRICS member. The geo-strategic landscape has already changed. The world sees that the emperor has no clothes. This will become even more apparent when Biden's investment in the war in Ukraine is exposed as a complete, costly and tragic farce.
By June 2015, China's external debt stood at around USD1.6 trillion.
https://en.wikipedia.org/wiki/National_debt_of_China
The US dollar is the primary global reserve currency. A large - if shrinking - slice of global trade is conducted in US dollars without involving the US economy at all. The US dollar is also used in many countries alongside and/or instead of the national currency. Many jurisdictions also operate US dollar pegs or boards. None of these dollars has to be spent in the US.
Not really. Saudi Arabia can sell their (shrinking) dollar revenue to buy anything anywhere. The days of threatening regime change are over. Riyadh is already accepting other currencies for oil and KSA is now a BRICS member. The geo-strategic landscape has already changed. The world sees that the emperor has no clothes. This will become even more apparent when Biden's investment in the war in Ukraine is exposed as a complete, costly and tragic farce.