Archive: https://archive.is/2025.04.11-041804/https://www.ft.com/content/a3fb6b82-4a51-4a5c-b831-f755518f5863
(…) The dominance of the dollar in global trade and finance has long been assumed to be a net benefit for the American economy, but this assumption is increasingly being challenged. While it benefits Wall Street and global owners of moveable capital, these benefits come at a cost to American manufacturers and farmers.
In a world where some countries actively manage their external imbalances and others do not, the US dollar’s role as the primary safe currency has made America the chief enabler of global economic distortions. Addressing these imbalances requires a fundamental re-evaluation of the rules governing global trade and capital flows.
Eh, Trump and company are morons with the worst solutions for things but some of those things are real. Blue collar are the ones to shoulder the cost of your country deciding to be global reserve currency issuer and they need to be compensated for it.
Sounds like the answer is to spread the wealth, not to become unreliable.
Doesn’t really work for the rest of the world though given what US does with that money.