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Politics : Foreign Affairs Discussion Group

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To: Fiscally Conservative who wrote (281475)11/15/2020 8:43:42 PM
From: Sun Tzu1 Recommendation

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Can you explain to me why some other country has to beat the US on GDP before the USD gives up the throne? Why for example the countries could not trade based on some basket of currencies that are used simply as a metric of value conversion while they simply barter with each other?

BTW, do you know what happened in Asia Pacific today? Do you remember that Asia trade deal that Obama wanted to push and the congress refused to sign on b/c it came from Obama (even though it was really the world of GWB)? Well that deal died and China took over to make a new treaty and today 15 Asian countries representing the largest trading block in the world signed up to it. India was the only major country that declined to sign in. The deal complements China's Belt and Road initiative and pretty much cements their leadership.

PS on PPP basis Chinese economy is the largest in the world with an estimated value of 25 trillion dollar vs US of about $20T.
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