| ▲ | azinman2 2 days ago | |
Answered in a sister thread. Are you from Europe or South America? Or just asking on their behalf? They are allies of the US, which includes economic spheres of influence. The premise of the petrodollar is that allies do better by being a part of it than not, which has been true for many, many decades now. China’s rise is providing an alternative for the first time in 70+ years, but so far it’s very unclear if these benefits will truly extend to allies of China or not. For example, China sends their own laborers when building infrastructure in Africa. Sure there’s new infrastructure but also debt to CCP without any benefits of knowledge transfer or local employment. | ||