Shaun Pua’s Reviews > Financial Cold War: A View of Sino-US Relations from the Financial Markets > Status Update

“At the heart of the matter was a fundamental conflict that persists to this day: the US desire for balance of payments equilibrium is incompatible with the dollar's role as a global currency and the consequent need to supply dollar liquidity to the whole world.”

Interesting issue to learn more about! The whole hoo-hah about the US trade deficit