I wonder how impactful that debt is. If america simply says "no, we wont pay it back, suck it up" there's nothing iran can realistically do. Same for most countries.
The entire world is based on trust and doing what you said you would do, everyone more or less got the memo except trump. The thing with trust is that it takes decades to build and one sentence to break
They could but it'd be the end of the dollar as the exchange medium of choice. With that it would effectively end the USA's position as the economical powerhouse of the world. That in turn would kick down the US economy. That in turn would hamper the USA in maintaining its military presence around the world. That would be the end of the USA as a superpower just like Russia lost its position when the Soviet Union collapsed. It might not be a permanent relegation to the sidelines like the UK experienced but the hiatus would certainly be filled by China, India and possibly some other players.
The article is basically predicting the opposite. USA will become the sole energy supplier (with Venezuela) of the world. All outstanding debts will get paid off due to huge economic windfall. USA will only sell oil in USD so it really doesn’t matter what other oil producers do.
I wonder how impactful that debt is. If america simply says "no, we wont pay it back, suck it up" there's nothing iran can realistically do. Same for most countries.
The entire world is based on trust and doing what you said you would do, everyone more or less got the memo except trump. The thing with trust is that it takes decades to build and one sentence to break
They could but it'd be the end of the dollar as the exchange medium of choice. With that it would effectively end the USA's position as the economical powerhouse of the world. That in turn would kick down the US economy. That in turn would hamper the USA in maintaining its military presence around the world. That would be the end of the USA as a superpower just like Russia lost its position when the Soviet Union collapsed. It might not be a permanent relegation to the sidelines like the UK experienced but the hiatus would certainly be filled by China, India and possibly some other players.
The article is basically predicting the opposite. USA will become the sole energy supplier (with Venezuela) of the world. All outstanding debts will get paid off due to huge economic windfall. USA will only sell oil in USD so it really doesn’t matter what other oil producers do.