While I don’t think we have quite reached that point yet, I do know that the vast majority of all world sanctions are imposed by the United States. It is close to 100% if you include sanctions imposed at the request of the United States.
Currently large swaths of Asia and Africa and a smattering in the Americas. A lot of those are against individuals rather than the country broadly, but it often has the same effect.
Right, and this is why dedollarization is taking off like wildfire. Nobody wants to use US financial system, but until recently it’s been the only game in town. Now that people see it’s possible to bypass it, there’s a lot of momentum to create an alternative trading system. I imagine the fact that members can’t sanction one another is what makes BRICS in particular so appealing.
While I don’t think we have quite reached that point yet, I do know that the vast majority of all world sanctions are imposed by the United States. It is close to 100% if you include sanctions imposed at the request of the United States.
Currently large swaths of Asia and Africa and a smattering in the Americas. A lot of those are against individuals rather than the country broadly, but it often has the same effect.
Right, and this is why dedollarization is taking off like wildfire. Nobody wants to use US financial system, but until recently it’s been the only game in town. Now that people see it’s possible to bypass it, there’s a lot of momentum to create an alternative trading system. I imagine the fact that members can’t sanction one another is what makes BRICS in particular so appealing.