The US is in Relative Decline against China

Yes.

Tariffs, except as income sources, do not work. Several hundred years of history has shown this.
Punitive tariffs even less so.

Apparently the lessons of 1929 have escaped.

 

OK thank you! A clear answer at last.

 

China's working population is four times the USA's, their average IQ is 5 points higher, and their Hong Kong-style economic system -- private ownership of private production, public ownership of land -- is indisputably superior to finance capitalism.

On the weaknesses side, their authoritarian governance model is more vulnerable to both corruption and incompetence than democratically responsible government (though granted, the USA is now barely democratic), their top-down control of information flows impairs social and economic resilience, and the advance of AI will mean population becomes an economic liability rather than an asset over the next few decades as a larger and larger portion of it (who are all still consumers) will no longer be producers. This technological development is also likely to produce very severe social repercussions as attitudes and demographics change with glacial slowness compared to technology.

 

Would that the world could actually lend itself to one word answers.

 

Trump won't be around any longer than five and a half more years at worst.

 

Losing Sole World Reserve currency status would be bad. Forgive me for being dramatic - but the day that a valid competitor exists to the US international system of payments - will be the day the History books record as the defacto end of the US Economic Empire.

I doubt the Yuan will replace the dollar - The Petro Yuan however has put a ***** in the armor of the Petro-dollar.

The calls to create an alternative have been going on for decades. After the 2008 crash - the calls got more serious as did the efforts. Baby steps - such as the EU's creation of Special Drawing Rights - these can only be used by nations - not by corporations or individuals.

While these were efforts - no serious threat had yet evolved - or seemed imminent on the horizon any time soon.

Then - Trump pushed the button - used the "Nuclear Option" - threatening to block banks and corporations out of the international system of payments for violation of his unilateral Sanctions on Iran - same applies I believe to the Russia -Venezuela sanctions.

The reaction was visceral - we are viewed as a Pariah - The strongest language used "you are messing with our sovereignty" on the public stage from the leaders of countless nations.

They submitted - because they have no choice - but now they are striking back - and working much harder to come up with an alternative.

The BRIC nations in particular.. numerous ideas have been floated - one is some kind of crypto currency backed by gold.

I find this interesting from a Historical perspective - finally there is a return to Gold - and the adage that Fiat money always fails.

 

No.
NAFTA will Shaftya.

Glas-Stegal.

 

I'm not sure if you're having a stroke, or if your discussion tires are no longer fully inflated. In any case, enjoy the day!