Yes, but:(1) Relative strength is critical because the US business model is issuance of the global reserve currency. Losing relative status means losing that.(2) Much of the US economy is fake & financialized. Look at the debt and production graphs.https://t.co/rhWLOzMui5Inev May (@InevMay):@balajis You might be right but this graph is misleading. If you look at the USA for example, its proportion of global economy has shrank (% on the graph), but the actual volume of its "piece of the pie" has increased. ...

You're right that everyone's share can increase in absolute terms.But the West's living standards are entirely dependent upon continued absolute dominance, because it's propped up by the issuance of the global reserve currency, namely the dollar.https://t.co/LRHxlQCnGdpr337h4m (@pr337h4m):@balajis interpreting that chart this way is zero-sum thinking ...

(1) The fundamental issue is that 1950-1990 was not the normal way things are supposed to be, but actually an extraordinarily unusual period historically. That was peak Westernization and peak centralization:(2) As the center of mass of the world economy returns to Eurasia, where it was for thousands of years, the relative strength of the West has declined.(3) In isolation this wouldn't necessarily be bad, as a decline in relative terms could still of course be combined with an ascent in absolute terms. It' ...

Core Viewpoint - BlackRock CEO Larry Fink has shifted his stance on cryptocurrencies, acknowledging their potential role as an alternative asset similar to gold, while still urging caution regarding their inclusion in investment portfolios [1][2][3] Group 1: Fink's Evolving Perspective - Fink previously labeled Bitcoin as an "index of money laundering" in 2017, but has since recognized its potential value in the market [1][3] - The change in Fink's tone reflects a broader acceptance of cryptocurrencies among major financial institutions, moving from outright dismissal to cautious endorsement [3][4] Group 2: BlackRock's Position in the Crypto Market - BlackRock manages approximately $12.5 trillion in assets and launched one of the first U.S. crypto spot Bitcoin ETFs in 2024, which has become the largest crypto ETF with over $93.9 billion in assets under management [2][4] - Fink noted that half of the demand for BlackRock's Bitcoin ETF has come from retail investors, with a significant portion being new to iShares products [4] Group 3: Institutional Adoption and Market Dynamics - The increasing institutional adoption of cryptocurrencies is highlighted by Fink's comments on Bitcoin potentially serving as a replacement for the U.S. dollar as a global reserve currency amid concerns over U.S. debt [5] - Bitcoin's market dominance has risen significantly, reflecting growing interest and investment in the cryptocurrency sector [5]

The dollar edged lower in the wake of President Trump threatening to impose new 100% tariffs against China next month.The dollar's decline has so far been limited as most seem to expect another agreement to be made but the risks of escalation in tensions seem higher, Commerzbank's Thu Lan Nguyen said in a note. While the tariffs would hit China's export economy, they would be "just as painful for U.S. importers."If countries decide to turn away from the U.S. and strengthen relations with alternative trading ...