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US imposes 104% tariffs on Chinese goods effective immediately (m.economictimes.com)

submitted 10 months ago by mc900ftJesus@lemy.lol to c/world@quokk.au

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[–] shirro@aussie.zone 5 points 10 months ago* (last edited 10 months ago)

I disagree on that. The Euro is the second most widely held currency and is a more obvious choice. Working constructively with China is economic reality. Submitting to them is unnecessary. This isn't post-WW2. I don't think we need a single reserve currency.

There is no doubt China is going to benefit greatly. A huge number of developing countries have been deserted by the US that first walked away from soft power through US Aid then penalised the poorest countries with outrageous tariffs. China has been by far the smarter player.