A world paradigm shift.

[maroon and blue]

We are currently witnessing a re balancing of the worlds financial landscape. The western world has been the centre of trade and influence for several hundred years based on gun boat diplomacy. Previously for millennia that financial control was exercised by China and India through the Silk Road. These two nations controlled 70% of world trade. What we are now experiencing is a rebalancing of world trade from western nations to the orient . It can only be a good thing for humanity.

 

[Oraaaaazio]

Ok Grandpa enough scaring people with your stories... lets get the nurse to take you back to your room hey....

 

[Bostonian]

We are currently witnessing a re balancing of the worlds financial landscape. The western world has been the centre of trade and influence for several hundred years based on gun boat diplomacy. Previously for millennia that financial control was exercised by China and India through the Silk Road. These two nations controlled 70% of world trade. What we are now experiencing is a rebalancing of world trade from western nations to the orient . It can only be a good thing for humanity.

Nothing about China is good for humanity.

 

[Kanga Commando]

We are currently witnessing a re balancing of the worlds financial landscape. The western world has been the centre of trade and influence for several hundred years based on gun boat diplomacy. Previously for millennia that financial control was exercised by China and India through the Silk Road. These two nations controlled 70% of world trade. What we are now experiencing is a rebalancing of world trade from western nations to the orient . It can only be a good thing for humanity.

Have you changed your view ?

Don't let your hatred of the USA colour a more practical evaluation of the world economy. The power of the Reserve status of the USD, and it's subsequent EuroDollar banking system ( i.e. USD banking outside of the USA ) can not be under estimated and i cant see it being replaced in my lifetime - its that complicated. Don't get me wrong... I think the USD reserve status makes for a flawed world economy, but right now it is simply the best of a bad bunch that we have available to us.

IIRC in 2020, the world economy required over $1T USD just to make the interest payments on USD denominated loans, OUTSIDE of the USA. This is incredible. That means all of these nations like China, Chile and Turkey require large amounts of NEW USD to meet their financial obligations. For a better review of this i recommend googling Brent Johnson Milkshake Theory. He will put this into terms anyone can understand.

FWIW - I see BRICS+ members are considering establishing a new reserve currency or process. Have a look at these BRICS member nations, and new ones proposed, most of them are either embroiled in War, awash with debts, hyper inflation and depositor bank runs - with several nominated by JPM as the "fragile 5".

 

[sabre_ac]

We are currently witnessing a re balancing of the worlds financial landscape. The western world has been the centre of trade and influence for several hundred years based on gun boat diplomacy. Previously for millennia that financial control was exercised by China and India through the Silk Road. These two nations controlled 70% of world trade. What we are now experiencing is a rebalancing of world trade from western nations to the orient . It can only be a good thing for humanity.

I'm on the cusp of middle age and I've been hearing this my entire life, including a period when Indonesia was going to be one of the superpowers and Australia would be beholden to it...

Who is it rebalancing towards?
China will likely grow old before it grows rich, it'll certainly have a moment but the fundamentals of the regime (authoritarian, large diferent population, inward-looking) suggest its reign will be short if at all.

The U.S certainly won't have a century like the one it just had, I can see a scenario where blocks dominate, whether there is north America (Canada/US/ Mexico) or Europe/Africa. I just don't see any individual countries taking the throne from the US and hanging onto it.

 

[maroon and blue]

I'm on the cusp of middle age and I've been hearing this my entire life, including a period when Indonesia was going to be one of the superpowers and Australia would be beholden to it...

Who is it rebalancing towards?
China will likely grow old before it grows rich, it'll certainly have a moment but the fundamentals of the regime (authoritarian, large diferent population, inward-looking) suggest its reign will be short if at all.

The U.S certainly won't have a century like the one it just had, I can see a scenario where blocks dominate, whether there is north America (Canada/US/ Mexico) or Europe/Africa. I just don't see any individual countries taking the throne from the US and hanging onto it.

Talking about Indonesia, they are becoming one of the Asian tigers. Their economic and military growth are on a par with Australia. You need to keep up to date with world events. The USA is in decline.

 

[sabre_ac]

Talking about Indonesia, they are becoming one of the Asian tigers. Their economic and military growth are on a par with Australia. You need to keep up to date with world events. The USA is in decline.

I'm mindful that this isn't really the board to discuss this and my experience of doomsayers is they've normally played the same tune for years/decades... So I'll leave this discussion alone