- America’s economic benefits from the use of the U.S. dollar as the global reserve currency are at risk due to federal mismanagement, through protectionist and isolationist economic and trade policies, as well as a significant decline in American consumer saving.
- The U.S. dollar’s standing as the global reserve currency is at risk from a variety of foreign threats and competing currencies, such as the Euro and British Pound.
- Due to souring relations with China, Chinese officials and economic advisors are projecting that the next phase of conflict between the US and China will be a “financial war.”
- The U.S. dollar is able to be destabilized through the emergence of digital currencies, including those from foreign countries.
- We will engage in actions to increase America’s economic liquidity.
- We will ensure the highest level of transparency possible in our financial systems.
- We will improve relations with all nations, including China and Russia.
- We will ensure that the United States keeps pace with the emergence of digital currencies, including those from abroad.
- We will ensure that the healthy growth of America’s economy benefits all Americans.
Unofficially acting as the world’s standard currency, the U.S. dollar is the currency of choice for almost 40% of the world’s debt and over 60% of all foreign bank transactions. As the world’s primary reserve currency, the U.S. dollar has traditionally been the currency against which the value of other currencies are measured. The strength of the U.S. dollar is the result of the relative strength of the U.S. economy, such that a weakened U.S. economy would likely impact the value of the U.S. dollar negatively.
According to recent analyses, the global supremacy of the U.S. dollar is at risk due to the global economic slowdown caused by the coronavirus pandemic as well as U.S. government mismanagement, protectionist economic and trade policies, and a decline in U.S. consumer saving. Financial projections estimate that the U.S. dollar’s position as the global reserve currency is being especially endangered by the U.S. government’s economic response to the coronavirus pandemic. Increased fiscal spending known as ‘monetary injections’, debt and debt monetization are devaluing the dollar. In the wake of the coronavirus pandemic, currencies of the world’s major economies and precious metals, such as gold, silver, and platinum, have all gained against the dollar.
Our currency is also threatened by recent developments in “financial warfare” and competing currencies. The U.S. dollar’s standing as the global reserve currency is at risk from a variety of foreign threats and competing currencies such as the Euro and British Pound. With souring U.S.-China relations, Chinese officials and economic advisors are projecting that the next phase of conflict between the U.S. and China will be a “financial war”. As fraught diplomatic trade relations and regional tensions affect U.S.-China relations, the U.S. and China are already engaged in various forms of economic and financial warfare, threatening the stability of both nation’s economies and the global economic system more broadly. In the long term, financial war waged by China against the U.S. can lead to a destabilization of the U.S. dollar and its position as the global reserve currency. Moreover, renewed unity in the E.U. following the pandemic and the subsequent signing of the E.U. stimulus deal have contributed to gains by the Euro against the U.S. Dollar. These gains might signal a long-term decline in the global position of the dollar.
To protect our nation’s thriving economy and currency, we will implement solutions across key areas, including fiscal and monetary policy, international diplomacy, and trade relations. Monetary easing is one option, such as by lowering interest rates and deposit ratios to increase credit availability. Quantitative easing is another option, such as the U.S. government purchase of bonds and other assets to increase economic activity. With monetary policies that reduce both monetary easing and quantitative easing to increase liquidity in the economy, we intend to strengthen the US dollar.
With directed, well-planned diplomatic efforts, we will work to improve relations with geopolitical foes such as China and Russia, as well as with our key allies. This will result in strengthening our nation’s leadership role in the world. Through drafting, negotiating, and signing advantageous new trade deals with major economies such as China, Britain, the E.U., and Japan, my administration will strengthen U.S. diplomatic and trade relations with these nations, thus reinforcing the American and global economies. Improvements in diplomatic relations will also mitigate the risks of financial and trade wars between the U.S and other major economies. In addition to these efforts, my administration will institute policies and develop regenerative infrastructure to radically expand the U.S. economy and maintain the global supremacy of the U.S. dollar.
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