Didn't know the US can pass legislation to compel (make) another nation revalue its currency. What if China were to refuse? What then?
That aside, seems it's an economic battle between cheap imports and subsequent dumping in the American markets and oil, the lifeblood of macro economies. I understand OPEC's strategy of holding world nations by their economic balls, but the US? Doesn't the USA have some of the world's largest oil reserves or is she saving them for herself and future inward-looking closed economic activity?
Politics and economics. The US is more or less a debtor economy, owing unimaginable amounts to liquid China and Arab states, many of whom are buying heavily into the country, corporations, real estate, even sports teams.
Like all things, the US might just be undergoing the kind of decline civilizations have, as called by the historian and writer, Edward Gibbons. Interesting.
Read the Article at HuffingtonPost
No comments:
Post a Comment