Geopolitics

The Limits of Economic Coercion: U.S.-China Irregular Warfare in a Dollar-Centered System - Small Wars Journal

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DW NOTE

The dollar's dominance isn't a design feature — it's the accumulated residue of every other currency being worse. Nations that complain about dollar hegemony keep demonstrating exactly why they can't be trusted with reserve status: capital controls when it suits them, price-fixing when it doesn't, and central banks that exist to finance deficits rather than anchor expectations. The Belt and Road was supposed to build an alternative. Instead it built a portfolio of non-performing loans denominated in dollars.

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The Limits of Economic Coercion: U.S.-China Irregular Warfare in a Dollar-Centered System - Small Wars Journal

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