Economic might comes down to productive capacity. Unfortunately most of the US’s “productivity” has transitioned the so-called services sector. Which is nice and all until you can’t produce strategically necessary resources.
Ultimately speaking the US dollar’s reserve status rests on the US economy’s productive capacity. Chinese dollar denominated exports are what’s propping up the dollar. Their accumulation of treasuries is merely a necessary consequence of the necessary accounting operations to dollar denominate those exports.
Ultimately speaking the US dollar’s reserve status rests on the US economy’s productive capacity. Chinese dollar denominated exports are what’s propping up the dollar. Their accumulation of treasuries is merely a necessary consequence of the necessary accounting operations to dollar denominate those exports.