and I think that is what is happening now. A weak dollar suits the US. Most Americans that don't buy European or Japanese cars and goods won't even notice a weak dollar. It will have little impact on them.
A weak dollar is part of the Xenophobic reaction you refer to. Foreigners seem to think that America wants to rule the world. This is not really the case. America wants to continue to be rich and to protect its interests and the American way of life. It is much more interested in this than world domination. China and India are still tiny economies compared to the US and the US is still the leader in intellectual capital and innovation. As American manufacturing dies out, the service sector continues to grow.
In the meantime, it suits the US to have a weak dollar and for foreigners to finance Americans expenditure.
Patriotism cannot be our final spiritual shelter; my refuge is humanity. Tagore, Bengali Poet
and I think that is what is happening now. A weak dollar suits the US. Most Americans that don't buy European or Japanese cars and goods won't even notice a weak dollar. It will have little impact on them.
A weak dollar is part of the Xenophobic reaction you refer to. Foreigners seem to think that America wants to rule the world. This is not really the case. America wants to continue to be rich and to protect its interests and the American way of life. It is much more interested in this than world domination. China and India are still tiny economies compared to the US and the US is still the leader in intellectual capital and innovation. As American manufacturing dies out, the service sector continues to grow.
In the meantime, it suits the US to have a weak dollar and for foreigners to finance Americans expenditure.
Patriotism cannot be our final spiritual shelter; my refuge is humanity. Tagore, Bengali Poet