My god, even the best chance for socialism is hopeless because of the dollar. “it’s not doomer because the party could do something different” idgaf day after day it’s more dollars and less long term hope. Nothing China does can matter because all the green energy, all the bnr, all the poverty elimination, all of it is paid for with imperial currency and little to no interest in changing this arrangement from within. The party will talk about win-win arrangements and mutually-beneficial cooperation until the fucking nukes are flying.
It’s ok comrade. This state of affairs doesn’t have to be permanent, and China may in the future find it beneficial to promote de-dollarisation due to a change in material circumstances. Hegemonies always fall. We are seeing the US empire crack and crumble around us right now.
The cracking and crumbling you note feels like it would be the change in material circumstances necessary. And yet, nothing
These things play out over years, decades even. I am not an expert either but looking to the long term, it seems to me that green energy has to overtake fossil fuels at some point, and China is the global leader in green tech. So eventually countries will switch to cheaper green tech coming out of China and the petrodollar will decline in relevance.
Yeah to put things in perspective, just a decade ago the concept of dedollarizing the global economy wasn’t even discussed. The fact that it’s now presented as a, albeit extremely unlikely, possibility is itself a dig of a shift in global economic power.
I admire the optimism, but the dollar isn’t just the petrodollar. Thank you for the hopium tho
Agreed, I was more using that as an example of the kind of shift that might weaken attachment to the dollar over time. Love & solidarity