you may not think so but after WW2 the USA decided that France would be administrative and South Germany would be European production capital. Then the coal and steel oligarchs with the help of USA founded the ECSC. The US controlled european finance until the end of Brent Woods and afterwards Europe has never been able to manage its own money because that was never the goal. The goal was single market yet there's no fiscal union.
This was true 50 years ago. At this point, thanks to lead addled GenXers like Musk and Thiel + a Boomer generation that doesn't want to retire America can't do anything.
We can't win wars. We can't lead global diplomacy. We can't respond to a pandemic. We can't ensure people have healthcare. We can't responsibly innovate technology.
I guess we can send rockets to orbit moon, something we did 50 years ago? Yay! (But not land of course!)
America still has financial power. Not saying it can innovate but Europe is in way worse shape as they don’t have any tech sector or innovation capital. Just 50 years of austerity that wasn’t enough somehow.
When dedolarization occurs the us will still have oil like saudi and Russia. It already acts like these two countries in many ways.
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u/caj_account 5h ago
you may not think so but after WW2 the USA decided that France would be administrative and South Germany would be European production capital. Then the coal and steel oligarchs with the help of USA founded the ECSC. The US controlled european finance until the end of Brent Woods and afterwards Europe has never been able to manage its own money because that was never the goal. The goal was single market yet there's no fiscal union.
Relevant quote from wiki article: