Russian central bank governor Elvira Nabiullina says the yuan’s share in Russia’s exports has increased from 0.4 to 34.5 per cent, replacing the US dollar and euro as its ‘primary’ currency for foreign economic activity.
Unfortunately the US has a lot better access to labor, better demographics, and more natural resources and better river networks, etc. to exploit, not to mention extremely good natural defense lines. No matter how well run Europe is in comparison, the US will always have a massive head start.
I’m still betting on the Euro overtaking the dollar - the EU is much less unpredictable than America.
Unfortunately the US has a lot better access to labor, better demographics, and more natural resources and better river networks, etc. to exploit, not to mention extremely good natural defense lines. No matter how well run Europe is in comparison, the US will always have a massive head start.
I agree but I don’t think the US would like or even let this happen.