By precipitating industrial erosion, the dollar’s supremacy undermines the foundational sources of American might
The dollar’s reserve status grants the US the luxury of comparatively cheap borrowing and chronic deficits, even as a systemically overvalued currency drives industrial erosion on a vast and clearly measurable scale. To crown injury with indignity, this attrition imperils the strategic foundations of American power.
Beyond deindustrialization: The distinct logic of hollowing-out
World-reserve status has facilitated the long-term real appreciation of the US dollar, undermining the competitiveness of export-oriented manufacturing and…
Read the full article at RT.COM
