The Decline of the Dollar Is Not the Decline of the United States

MIN READMay 2, 2016 | 09:30 GMT


Stratfor agrees with several of the assertions put forth by our friends at ETM Analytics in last week's series on global macroeconomics. We agree, for example, that the United States sits at the center of the global financial system and that the Federal Reserve's actions will ripple throughout the world regardless of whether that is the governing board's intent. The Fed's core mandate, for better or worse, is stewardship over the U.S. economy, and its concerns for the health of the global economy are secondary. There is no doubt that the United States' dominance of the global financial system can put other countries at risk. That risk will continue to drive other countries to protect themselves financially, limited though their options may be. In truth, the only powers that could realistically challenge the United States' economic dominance are China and Europe. But neither can offer a distinct alternative to U.S....

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