This book will follow the main line of world reserve currency hegemony,
starting with the deliberate overthrow of the pound sterling hegemony by
the US dollar, showing how the US monetary strategy masters have
gradually eroded the pound sterling power, squeezed the pound sterling's
international reserve currency status and trade settlement pricing
power, and how the pound sterling power has counterattacked the US
dollar through the "imperial preference system", and returned the US
dollar to its original "isolationist" form. The fierce struggle between
the dollar and the pound created a vacuum of world financial power in
the 1930s that exacerbated the Great Depression worldwide.
The Second World War provided a historic opportunity for the dollar to
eradicate the pound, and the Atlantic Charter and the Lend-Lease Act
were all sharp scalpels in Roosevelt's hands, aimed at dismembering the
British Empire's pound. Eventually, the United States established a
"Bretton Woods dynasty" with a dollar-based system as regent by "holding
gold hostage to the vassals".
The basis of interest in the "China-America" economic marriage is
fracturing and disintegrating. America's tolerance for China's booming
economy was originally based on the model of Chinese production,
American enjoyment, Chinese savings, American consumption. China's
future economic transformation will inevitably require a shift in the
main resources of the national economy from being tilted towards
overseas markets to being tilted towards domestic markets, thereby
reducing savings exports to the United States. This process would change
the basic U.S. position of continuing to tolerate China's economic
growth.
