As Alexander, Rome and Britain fell from their positions of absolute global dominance, so too has the US begun to slip, Reid writes in a new note to clients. America’s global economic dominance has been declining since 1998, well before the Global Financial Crisis. A large part of this decline has actually had little to do with the actions of the US but rather with the unraveling of a century’s long economic anomaly. China has begun to return to the position in the global economy it occupied for millennia before the industrial revolution.
Posted on: Sat, 13 Sep 2014 23:06:47 +0000
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