Been in the financial business for over 30 years. I know about the reserve currency. That clock is running out. One of China's main goals is to become the world's reserve currency and they are well on their way.
The way the US became the world's reserve is because we used to manufacture shit. The world had to use the US dollar to buy shit. We don't make shit anymore China does.
China understands the position they are in very well.
And it does come from tax dollars because eventually it counts against the bottom line. You may not pay for it but your descendants will one way or another. Either they default or they will have to massively raise taxes. There won't be enough growth in a communist country to take care of it.
Been in the financial business for over 30 years. I know about the reserve currency. That clock is running out. One of China's main goals is to become the world's reserve currency and they are well on their way.
The way the US became the world's reserve is because we used to manufacture shit. The world had to use the US dollar to buy shit. We don't make shit anymore China does.
China understands the position they are in very well.
And it does come from tax dollars because eventually it counts against the bottom line. You may not pay for it but your descendants will one way or another. Either they default or they will have to massively raise taxes. There won't be enough growth in a communist country to take care of it.