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jshm2 The joke is that China did to the USA, what the USA did to the British Empire before it.
I don't think China did anything to the USA. China did not do anything despite all that prancing around by the US, shored up by the UK, EU, Canada, Australia, and New Zealand as the lone superpower of the world. China did what the Chinese do: mind her own business which is expected to grow bigger than the US economy by far.
The USA just fell away quicker, is all
The USA took over the mantle left by the British after WW2 in 1945. How long is that tenure? Eighty years from then till its downfall at the hands of Donald Trump?? It's not even that long a period. Actually, the US never took over at all. The gold standard of Bretton Woods was backed up by printing US Dollars. It was unsustainable due to heavy US spending especially on the Vietnam War. France and Germany began dumping US Dollars in exchange for physical gold locked up in US vaults. To get out of this pinch point, the US made a deal with Saudi Arabia to price oil in US Dollars. In exchange, the United States guaranteed military protection for the Saudi kingdom and its oil fields, alongside sending advanced weapons and technology. How is that working out? Donald Trump has blown the scam wide open with his Iran war.
Any economist in this forum?
