US must accept it's not the sole superpower, focus on industrial growth to boost economy.

From Investing.com: 2024-07-20 04:01:03

Analysts from Gavekal Research say the US must accept it can’t be the only superpower and focus on industrial growth to boost the economy. They warn that clinging to monetary dominance could harm the US and global power. The US needs to meet key criteria to keep its status as the world’s reserve currency.

The US has historically dominated in industry, agriculture, finance, and law, gaining economic leverage through agreements like pricing oil in US dollars. However, analysts note a decline in US industry and middle-class prosperity, with disparities growing. The US must address these issues and rely less on external deficits to maintain its economic stability.



Read more at Investing.com: Sky’s the limit for US if it accepts not being the world’s sole hegemon: Gavekal By Investing.com