Lol no.
Yes, you are correct on this. Although as it stands now China might have the thicker and stronger stick, although it is shorter than the one the US have.
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- Thread starter bd popeye
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In what UNIVERSE does the world owe Western Countries more? And why? Please elaborate on this point so that perhaps you can enlighten people like myself who missed this important point in history.
As for who's got the biggest stick, I say it's the U.S. and Russia in terms of nuclear arsenal. Joseff Borel and the rest of the useless EU excluded.
duncanidaho
Junior Member
I'm not clear in my wording. What i mean is owe in term of Dollar (Euro, Yen, Pound) debts.
I see what you mean now. Thanks for the clarification, appreciate your timely response.
When you own the bank $100, its your problem. When you own the bank $3 trillion, its the bank's problem.
In the same way, people with excel sheets think that China holds $3 trillion and that's it can do whatever it wants. However in the real world, Biden can change one entry in the database and make that $3 trillion "money" worthless or toilet paper.
So, China needs to offload these dollars asap. However this also that it has to remove dollar as the reserve currency and it needs to develop its internal market/consumption so that it can generate an even stronger economic gravity pull towards China and the RMB. All these require hard hitting economic reforms, which I am not seeing at the moment. It will take decades for this to happen
duncanidaho
Junior Member
China can buy out with its foreign reseve the Dollar (Euro, Yen, Pound) debts from countries like Brazil, Argentinia etc in exchange of RMB debts. Now these countries have RMB debts instead of Dollar debts.
Whether it works or not depends at the end who has the bigger stick or who has more leverage over the other.
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Making Germany celebrate their defeat in WW2 every year is the best thing the west did. If only something similar happened in Japan.