Dan Drezner over at Foreign Policy’s blog machine has a great post about the dollar as a reserve currency. It seems the Euro is in trouble. Drezner thinks China’s economy is “in order,” but I disagree. The predicted rises of China and the EU remind me of the poorly predicted rises of the Soviet Union or 80’s Japan. American hegemony is here to stay.
A Return to Fiscal Hegemony?
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I hope so. The key is that we have to make sure we can still attract the brilliant minds of the world to come here and innovate.
But either way, notwithstanding the financial crisis, the internet is making geography irrelevant. Along with it goes national borders and demarcations.