I think at the end of the day if a country's strongest asset is its "demand", that is, its ability to consume goods and services instead of produce them, then i think that country is in for a world of hurt.
US is the "buyer" who has the money. China is the biggest supplier of goods. A statement like the above is overly simplistic. The US will exert power and influence in a buyer's market, and will lose influence in a seller's market. Which market we're in is an be interesting discussion, and it predicates any prediction of the future.
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I think at the end of the day if a country's strongest asset is its "demand", that is, its ability to consume goods and services instead of produce them, then i think that country is in for a world of hurt.
US is the "buyer" who has the money. China is the biggest supplier of goods. A statement like the above is overly simplistic. The US will exert power and influence in a buyer's market, and will lose influence in a seller's market. Which market we're in is an be interesting discussion, and it predicates any prediction of the future.
A country's demand is linked to its supply. After all, it has to pay for the goods it demands with something.
That's a very loose link in a world where fiat currency and reserve currency exist for printing money.
But not negligible. The USD wouldn't be where it is without the US economy.
Not only has no one said that, it doesn't even make sense in the first place.