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A number of fundamental questions continue to hound the US going forward in what many believe is an increasingly decentralized, volatile global financial playing field.
How long can the US continue to rack-up trillion dollar deficits? If the US dollar does lose its its world reserve currency status, what will the new monetary order look like?
Already, countries like China and Russia are taking active steps to phase out the US dollar transactions in major commodity trades like oil and gas.
Undoubtedly, China is entering a new ascendant phase in terms of projecting global power and influence. One of the main drivers of this transition is not only the Chinese economy – but its culture too.
While many in US still in denial that rest of world is moving beyond the post-WWII global order, China has already proven it can carry and sustain the mantle of a state-led, powerhouse economy. Going forward, can the American culture of individualism compete economically with the Chinese state’s collectivist system going