Diminishing American Power: The US - China Trade War, Sanctions, and Coronavirus

Abstract

Today, the problem facing the United States is not whether cryptocurrencies are money or “thin air,” Iran’s nuclear ambition, or COVID-19 induced recession; it is China’s fast acceleration in becoming a game changer in the world order that the U.S. has dominated for more than a century. Raging a war on cryptocurrencies will not stop life-changing inventions (Bitcoin and Facebook’s Libra coin) from forging ahead unabated regardless of persistent as well as absurd efforts by doubters, pessimists, doomsayers, skeptics, disbelievers, and short-sighted/blindfolded politicians who are so anxious to put another nail in the coffin. Stories have repeatedly told that the United States of America is the land of opportunities for brave entrepreneurs and inventors who trust their visions and believe taking risks will lead to great returns, this is the true American way not President Trump’s way of bullying sovereign nations’ governments to get what he wants or believes is good for America. One wonders how much more of the world’s scarce resources the U.S. will exploit and how many more lives will be perished just so that America can keep enjoying the dollar’s “exorbitant privilege”.