The current monetary and financial system is in the hands of the Americans who have placed their US dollar at its center.

The fact that the US dollar is the world's reserve currency gives America an incredible advantage. It is as if the rest of the world is paying for the American standard of living. It makes it convenient for them to transfer the inflation in America to other parts of the world by simply printing more dollars. That’s slavery, serious economic slavery they are keeping everyone in.

So the Americans can and do run up their debt ad infinitum as long as they have this exorbitant privilege.

This is the reason why countries like China and Russia are disengaging from the US dollar in an attempt to change things because the American hegemony over the current system seems to them totally unfair.

Of course, it is, but as long as America is the world's leading power, you can't change that.

To be sure to keep this domination over the current system, America has already shown in the past that it is ready to do anything, and especially to use its military power if necessary.

This is why it is frequently said that the US dollar is backed by the US military.

The emergence of China as a potential first economic power in the future makes the Americans fearful and they will do everything to prevent this from happening.

Will they go so far as to use their military power to ensure that they retain their dominance? This is the worst-case scenario, but unfortunately, we cannot totally exclude it.

This is one of the article that have been causing problems in the world with half baked knowledge about how things work.

Eish

helinues:
This is one of the article that have been causing problems in the world with half baked knowledge about how things work.

Eish

ok, educate me.
I’m willing to be educated

Interesting topic but would like to see the views of those versed on the subject.

F

Chinko have been the problem of the world

FOLYKAZE:
Interesting topic but would like to see the views of those versed on the subject.

I think it’s hard to disagree. If you don’t follow the media logically, China will seem like the bad guy because America is employing all forms of warfare including media propaganda to stop China.
Just think about the enormous advantages from compelling the world to trade with your currency? You don’t even have to do a lot to become prosperous.

The fact that you can’t buy oil with another currency unless the dollar is huge plus for United States. You will have a problem with U.S If you try to change the status quo as a country. We have seen this so many times.
Though China might have their flaws but in a larger picture, U.S is the problem and China is trying to shift the paradigm.

Irrespective of how long it take, it will change. Countries are becoming wiser and smarter. For China to be able to call the Buff of USA, they need a very good military. Same with Russia. Then NK is pursuing their nuclear program. So when these countries cannot be threatened and forced to use the US dollars, they can then look for a new way forward.

In 2020 alone, the US has printed more money than they have over the past 20 years, thereby transferring their inflation to the world. The CNN and other Western media will never mention this.

The number one problem here is the western medias

One of the major problems is all the offshoring and outsourcing to backwards lames like China. China will always be a third world country regardless of any development.

Cousin9999:
One of the major problems is all the offshoring and outsourcing to backwards lames like China. China will always be a third world country regardless of any development.

Being a third world country has nothing to do with development in the first place.