If I have to read one more these rubbish assessments of the decline of the USD I will be reaching for my revolver. Via Harry Sender at the FT:
One consequence of the America First policies of US President Donald Trump will be to create a bipolar financial world, with China at one end and the US at the other. That will mean smaller financial flows between the two, and a much more robust effort from Beijing to eventually challenge the dollar’s status as the world’s reserve currency.
That, in turn, potentially has implications for everything from the status of US Treasury securities as the safest assets in the world to how oil is priced.
