Special Edition: De-Dollarisation and the New Monetary Order
Multipolarity
Understanding the US Trade Deficit and its Impact
The US has an advantage in running a trade deficit because it can print dollars, while other countries have to earn them. A trade deficit means consuming more than producing and living a richer lifestyle than justified. In the 1980s, the US used this advantage to build a strong military, but in the 1990s, they began living beyond their means by importing more from countries like China and Japan. This system lasted for about 20 to 30 years until currencies started floating freely on the market.
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