The United States is so focused on protecting dollar dominance, Yang wrote, in part because its dominance in other realms of the global economy—such as goods exports and leadership in certain cutting-edge technologies—has slipped to China.
However, Trump’s recent actions toward Brazil may backfire and hurt the United States’ global position, financial or otherwise.
For instance, many foreign-policy observers saw the visa ban on Brazilian judges as an overstep. Some in Bolsonaro’s inner circle have lobbied Trump to go further and impose financial sanctions on the judges under the Global Magnitsky Act, which would require more proof of wrongdoing than a visa ban.
Not just Brazil, but now even India will find it less appealing to let the dollar be as dominant as it is. Whether Trump’s action would push these countries to do the same remains to be seen.
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The United States is so focused on protecting dollar dominance, Yang wrote, in part because its dominance in other realms of the global economy—such as goods exports and leadership in certain cutting-edge technologies—has slipped to China.
However, Trump’s recent actions toward Brazil may backfire and hurt the United States’ global position, financial or otherwise.
For instance, many foreign-policy observers saw the visa ban on Brazilian judges as an overstep. Some in Bolsonaro’s inner circle have lobbied Trump to go further and impose financial sanctions on the judges under the Global Magnitsky Act, which would require more proof of wrongdoing than a visa ban.
Not just Brazil, but now even India will find it less appealing to let the dollar be as dominant as it is. Whether Trump’s action would push these countries to do the same remains to be seen.
Well, I see “MAGA” is going well.
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