China has moved into high-tech manufacturing which is competing very well with the USA, EU, Japan and South Korea. The USA was already rattled by DeepSeek in AI, unable to compete against Chinese EVs, shipbuilding and infrastructures like high-speed rails and not to talk about manufacturing. The trickle-down effect is a bonus for other South Asian countries, particularly Africa.
Trump gloated that the world has to keep up using the US$ forever. Trump seems to have already forgotten his demonization of the de-dollarization agenda of BRICS countries and contradicting his earlier stand, knowing earlier that de-dollarization is posing a great threat to the US$ hegemony.
BRICS countries are already conducting trade outside the US$, so just spinning the continued dominance of the US$ in world trade in time to come is a bit too far-fetched. Countries are already dumping US bonds and assets in the face of those tariffs and needing to hold less US$ for trade going forward. As trade within BRICS can already be conducted in each country's local currency, what does the future hold for the US$ in the context of BRICS countries, with the exception of India.
Anonymous
6 comments:
Whither Singapore, the panicky mouse ?
Singapore is moving to Africa, to pick up the leftovers. Africa is with Russia, that like China had been helping Africa with decolonization decades earlier. Russia is even reported to be sending free grains to certain African countries.
Remember the saying - The friend of my enemy is also my enemy.
Definitely need more oppo voices, to challenge stupid decisions like sanctioning Russia and badmouthing China and then sucking up to the declining arrogant empire.
The White party is now out of touch and will bring SG down the rabbit hole.
Sometimes the decline of anything, be it empires, dynasties, companies start from small moves coming back to haunt and destroy. USA is one good example today. And betting on the wrong horse is also a factor.
The evil American Empire is breathing down heavily on Singapore to do its bidding. Lucky to have a strong PM that said no, and no more embarrassing sanctions against Russia and China. Just diam diam.
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