First the British Empire, then the United States. How many centuries back do you want to go?
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... This doesn't get discussed enough: https://en.wikipedia.org/wiki/Triffin_dilemma … (Explicitly acknowledged by Chinese economic leadership, though.)
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Basically, folk want to give you stuff so they can have your money, meaning you don't have to make your own stuff?
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Exactly. The cumulative trade imbalance just IS the foreign stock of international reserve currency.
10:41 PM - 13 Jul 2017
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