Why trying to simply declare independence from US dollar and technology isn’t a viable option
In Europe, discussions are coalescing around an ambitious idea called EuroStack, an EU-led “digital supply chain” that would give Europe technological sovereignty independent from the US and other countries.
‘Enshittification’ of American power: How US hegemony is sustained by network logic that’s difficult and expensive to break away from
So dollar clearing is an expedient. It’s also the chief enforcement mechanism of US financial policy across the globe. If foreign banks don’t implement US financial sanctions and other measures, they risk losing access to US dollar clearing and going under. This threat is so existentially dire that, when Lam was placed under US sanctions
Kenyan president among world leaders to be taxed for using private jets or first class
UN chief Antonio Guterres said the Seville meeting aimed “to repair and rev up” a world system where “trust is fraying and multilateralism is strained.”
