| Topic: De-dollarisation is no myth |
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| 21. Author: The One Who Knocks Date: Thu 24th Oct 2024. 11:47 Well you do concede Oz that you may be wrong. The US dollar won`t always be the reserve currency of the world but the changes will be glacial and like I`ve already said Oz neither of us will see the day when it isn`t despite the world very slowly changing before our eyes. And although my eyes were open They just might as well be closed Reply |
| 22. Author: OzPar Date: Thu 24th Oct 2024. 12:14 TOWK says: ... like I`ve already said, Oz, neither of us will see the day when it isn`t despite the world very slowly changing before our eyes. === I plan to live a long and optimistic life, so there`s still hope! :) Reply |
| 23. Author: The One Who Knocks Date: Thu 24th Oct 2024. 12:37 I wish that for us both Oz! And although my eyes were open They just might as well be closed Reply |
| 24. Author: OzPar Date: Thu 24th Oct 2024. 13:14 Well said, TOWK. :) Reply |
| 25. Author: OzPar Date: Thu 24th Oct 2024. 15:02 HJ said: You really need to delve deeper into what`s going on with the Chinese economy and you`ll see that it is far from the rosy picture they`re trying to paint. I`m dealing with that at work every day with companies heading to Singapore and others. A wee wander around Shenzhen last weekend showed many abandoned construction sites and empty shiny new LED-laden office blocks. The bubble has burst and now they`re facing a demographic crisis that dwarfs Japan’s. === While it is true that China faces challenges, it is important not to lose sight of the bigger picture. Over the past 40 years, China has transformed remarkably, lifting hundreds of millions out of poverty, becoming the world’s second-largest economy, and revolutionising global trade and technology. And in that time, it has fought no one. Focusing on single issues like property bubbles or demographic challenges, which are hardly unique, risks overlooking China`s immense progress in infrastructure, education, and innovation, which continue to shape its future trajectory. In so many respects, China is a world leader—take green technologies: wind power, solar panels, fourth-generation nuclear power, the hydrogen economy, electric vehicles, fast intercity electric rail, hi-tech bridge design, digital systems, to name a few. China wants to export these technologies to help other countries advance at speed, just as it has done. Instead, the United States, burdened with backward thinking and outdated infrastructure, wants the world to impose levies and taxes on Chinese products. It’s just wrong. When I first visited China in 1984, it was still in the early stages of Deng Xiaoping’s economic reforms. As I stood on the Shanghai waterfront at the Bund and looked across the river, Pudong was predominantly farmland with a few farmhouses scattered around. On my last visit to Shanghai, about ten years ago, Pudong was covered in skyscrapers from horizon to horizon. In 1984, Hong Kong was still under British rule and was the only East Asian seaport in the world’s top ten. Today, six of the top ten world seaports are Chinese. In 2008, there were no high-speed rail links in China. Today, 26,000 miles of high-speed rail lines are on a network covering almost all provinces. The transformation has been remarkable. In contrast, America was a story of decay during the same period. To my knowledge, there are no high-speed rail services in the USA. Its biggest seaport, Los Angeles, just scrapes into the top 20 at 20th. Let’s be honest; something seems to be fundamentally wrong with Western capitalism. Reply |
| 26. Author: jake89 Date: Thu 24th Oct 2024. 17:40 Thanks for the clarification, P. Interesting re: investment in tech skills. There`s significant investment in fintech in Scotland but it will always be dwarfed by larger nations who have a larger resource pool. It won`t ever lead to the "Poond" being the international currency of choice though! I know little on finance beyond a few weeks at HBoS pre-Lloyds but it seems logical to me that a country-less currency is a possible way forward in the future. Whether that`s feasible or not I don`t know. I certainly can`t imagine BRICS having much impact but then the ideal solution is for countries to put politics aside and work together for the greater good. That`s too much like common sense though and countries will still fight to protect their little empires. Reply |
| 27. Author: OzPar Date: Sat 26th Oct 2024. 09:40 A highlight of the meeting in Kazan was this brutal confrontation between George Galloway and a Sky News journalist. https://x.com/s_m_marandi/status/1849714110583202001 :) Reply |
| 28. Author: DBP Date: Sat 26th Oct 2024. 17:00 Jake there’s this thing called bitcoin …and try as they might, gov.s don’t own it and if you’re in anyway smart about it, they’ll know nothing about what you’ve got and what you spend it on; which is why they’re desperate to try and regulate it (read control, monitor you and get their paws on what you’ve got) Could easily work like the old ‘cash in hand’ approach of days gone by! I actually know a couple of boys who’ve done jobs and been paid in Bitcoin Reply |
| 29. Author: jake89 Date: Sat 26th Oct 2024. 19:48 Familiar with bitcoin but we`re some way off people paying their mortgages with it or it being accepted in Aldi. That`s the sort of thing I mean for big trades though. Why use the dollar, euro or whatever BRICS want to use when you could use Bitcoin or similar? Reply |
| 30. Author: DBP Date: Sat 26th Oct 2024. 21:18 We might be in this country, but you can in others Reply |
| 31. Author: jake89 Date: Sat 26th Oct 2024. 21:26 We`ll still be using good ol` British pound. If it were good enough during the wah-ar... Reply |
| 32. Author: PeachtreePar Date: Sun 27th Oct 2024. 15:36 Ozpar while I think you bring up some good points the likelihood of the US dollar not being the World`s primary reserve currency for many years to come is extremely unlikely. The fundamentals being the strength of the US economy and access to Capital through the markets. It might not dominate quite as much as it has in recent history but it`s not going away any time soon and certainly very unlikely in our lifetime or many generations to come China has invested a lot in infrastructure for sure but it`s still Government debt and their debt to GDP is extremely high. The rails have come off the export economy. Changing how they are reporting youth unemployment was calculated says a lot. The strength of any true top tier economy is the ability to generate wealth from within its own people. A lot of consumer wealth in China is tied to the Real Estate market and the property building boom. It`s not sustainable in the long run when you have 30% of your economy based on it. Part of my own retirement investment is with Chinese Large Cap and it`s the only part of my portfolio seriously underwater at -30%. The Demographic time bomb is going to be hard to fix in the short term to medium term and perhaps can`t be fixed. I really can`t fathom why people even pay Putin any kind of respect. Cold hearted, lacks basic empathy. Sooner psychopaths like him are dead and buried the better. He is a much better liar than Trump I`ll give him that. Post Edited (Sun 27 Oct 15:39) Reply |
| 33. Author: Tenruh Date: Mon 28th Oct 2024. 10:30 Another viewpoint [url]https://open.substack.com/pub/dearscotland/p/building-a-new-world-order-one-brick?r=hzhx5&utm_campaign=post&utm_medium=email[/url] Reply |