Canada here - my boss made a prediction today that the world will now start to shift towards another currency such as the Euro and I never thought about that possibility until now. Rome used to be the world currency until it fell.
If the dollar were no longer the international reserve currency, the US would be in serious economic trouble, if not bankrupt. However, I don't think that will happen because the US will probably not shy away from preventing it by force with its gigantic military machine. I don't think that's very far fetched, considering what happened to Iraq after Saddam announced in 2000 that he would sell oil in euros instead of dollars. It is of course difficult to prove that this was actually the reason for the US invasion of Iraq - but weapons of mass destruction, the alleged existence of which was put forward as a reason for the war by the US, were in any case demonstrably non-existent.
You're right about the US's military, but you know who also had an outstanding military? Almost all (now dead) empires. I think it stretches exceptionalism beyond all credibility to think the US will buck this trend.
That the US empire will be thought of in the past tense is pretty much inevitable, I'm most worried about how it goes. Will it be with a bang, or a whimper. I fearful of the former as they can mount a pretty big bang.
The thing is, with intel's bad reputation and actual mismanagement, we don't have the domestic chip production that we need to supply all of our vehicles, drones, etc. So as we weaken, our access to our trade partners will weaken. Taiwan is the next piece to break up US power.
I can't see the US invading Germany or the UK if there was a shift to the Euro. Let's face it, Trump's hostile takeover of democracy isn't actually reassuring to the rest of the world. The globe isn't necessarily going to willingly be held hostage to seven US swing states every four years.
It's gonna be a much harder sell to attack Europe. I'd get on that sooner than later. Biden likely won't lift a finger and Trump will have a hard time getting that operation started without organizing a false flag first. Even then he'll need time to weed out the unloyals.
Quite likely the ultimate outcome, if/when the US economy conflagrates under this administration.
It’s a question of what the new global standard will be once the flames settle down; the Euro, the Yuan, the Ruppee or whatever single-currency BRICS inevitably puts forward.
Oh, it's coming for them. Eurolibs are about to find out what happens when the Neo-Tripartite gets formed with America, Russia, and China and it turns out it's the alliance with the only navies that matter, control of the majority of the world's oil production, the only nuclear stockpiles that can threaten total annihilation, and the majority of the world's weapons manufacturing.
In terms of climate goals previously agreed to which will be thrown out the window. Absolutely. As for everything else, also yes. Start considering the USA a deeply flawed, racist, misogynistic, wannabe strongman state. With a list of never ending grievances and the ego to match.
Sweden went from a farming country in 1900 to an industrial nation, then as it wasn't bombed to splinters as the rest of Europe in WW1 and WW2 we surfed that high for a long time. I felt the effect starting to crack around 1990-2000 I guess, but Sweden still benefits from having a head start in -45.
The USA is maybe just the same but on a much larger scale, and Europe have for sure awakened around the same time (-95?) economically, we're just timid in the war and influence things but the people who have at least second hand information from WW2 are getting fewer and fewer so less people will hold back a military strong EU.
Maybe it's time to wake up?
Interesting times ahead. A shame it won't obligatory be good times.