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  • World’s largest trade deal will come into force in January. The U.S. won’t be part of it

    From cnbc.com

    The world’s largest trade deal — which includes China and excludes the U.S. — will come into force in January next year. It comes as Australia and New Zealand announced they have ratified the agreement. The Regional Comprehensive Economic Partnership or RCEP was signed last year by 15 Asia-Pacific countries. The countries are the 10 members of the Association of Southeast Asian Nations and five of their largest trading partners China, Japan, South Korea, Australia and New Zealand. Australia said in a statement on Tuesday that its ratification — together with New Zealand’s — paved the way for the deal to ... (full story)

Beginning of the end for the USD as global currency?
  •  Guest
  • | IP XXX.XX.52.98
If the USD is displaced as a reserve currency, the consequences will be disastrous for the US.
Yeh well it's Asia where a deal is a deal until it isn't.
That fine print is always troublesome.
Lot of show for public consumption but as we all witnessed at cop26 heads of State largely slumbering, not much difference in this matter.
In my opinion, it is the USA Military which is backing the USD as the reserve currency much more than the USA economy. Particularly its Blue Water Navy. When her Aircraft cariers become sinkable or unservicable, obsolete by new tech weapons, that will be a challenge on her reserve currency.
Hmmm.. as I remember US spends c3.3% GDP on Military. China - c1.75%.
What happens if China increases spending to 3.3%?
I hope not.
Warning: A Dangerous Subversive: 1% of comments CoCed
Quoting RossEdwards
Hmmm.. as I remember US spends c3.3% GDP on Military. China - c1.75%. What happens if China increases spending to 3.3%? I hope not.
I'm not sure they would need to. In due course it is looking like their economy will overtake that of the US becoming the largest in the world...
  •  Guest
  • | IP XXX.XXX.170.69
Quoting Schweet
Beginning of the end for the USD as global currency?
No, US allies/partners are in the list
Japan, Singapore, Australia, New Zealand, Korea. They can influence all the participants from China's scheme.
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  •  Guest
  • | IP X.XXX.40.122
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  • Story Stats
  • Posted: Nov 3, 2021 3:40am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 8  /  Views: 2,416