"One Dollar's Global Economic Journey" Trade and Investment, Currency and Trust

Mar 29, 2022

The key lies in trust... I hope this strong trend can circulate endogenously and repeatedly, and everyone is willing to embrace the "one dollar" token under this system.

Author: Dharshini David
Translator: Chen Yi Publishing House: Shangzhou Publishing House

"One Dollar's Global Economic Journey: From Wal-Mart in the United States, the Central Bank of China to the Nigerian Railway, an insight into the truth about how the world works"

Follow a tour guide around the world. Every time he visits a country, he reveals to tourists (readers) the actual operation of the local economic system. This guide's name is "Dollar".

■ Micro experience

The subject matter of " One Dollar's Global Economic Journey " covers a wide range of topics, as many as eight countries (the political and economic situations), but the author cleverly connects them - using US dollars. If countries are compared to human organs, then the flow of US dollars is equivalent to blood circulation. This reflects the fact that the US dollar is a common financial term in the world and the standard pricing currency in the field of trade and investment .

╱Trade and Investment Tour

When it comes to trade , the book mentions the Sino-U.S. trade war, Indian rice production, the oil struggle in Iraq, the Russian arms industry (looking at this paragraph today, it doesn’t feel inconsistent compared to the Russia-Ukraine war) and the European Union; when it comes to investment , Also see China’s One Belt One Road plan, the German housing market, the City of London, the U.S. subprime mortgage crisis and government countermeasures... Every time I get involved in a new topic , I patiently trace the source and popularize the accompanying science in a relatively easy-to-understand way. A proper noun that comes from . I copied down the page numbers where these terms appeared, and after reading the book, I also accumulated another small financial encyclopedia dictionary (laughs).

╱USD and Trust Deposit

The US dollar was originally a promise to pay holders of US dollar banknotes in gold. However, since the abolition of the Bretton Woods Agreement in 1971, the value of the US dollar is no longer linked to gold. So the basis of this commitment is no longer something tangible, but a shared belief in the value of the dollar , as well as other currencies.

Trust that a dollar will be recognized as payment for a dollar's worth of goods and services, trust that it will retain that value, and trust that the U.S. government can ensure that the dollar will retain that value.

Whether it is backed by gold or faith, or even the US dollar itself is a backing (used to guarantee the stable currency in electronic currency)? They must rely on ordinary people to give "trust" and support their value .

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At this point, let’s open up some ideas.

Creation is like trade , exchanging readers’ attention. Furthermore, when trust is particularly deep, there is a chance to win Bole's praise and investment - in the Web3 world, various homogeneous and non-homogeneous tokens (tokens) seem to make this matter easier to popularize.

I hope that the "creation has a price" economy will grow into a strong trend that can flow endogenously and repeatedly. Everyone is willing to embrace the "one dollar" token under this system.

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