In 2021, China derived 43% of its GDP from investment, which is twice as much as the US and other Western countries. If China shifts some of its GDP to consumption, it could reduce its trade surplus by encouraging consumers to buy more imported goods. This could potentially position China and its trading allies to challenge the dominance of the US dollar.
Change is good, but dollars are better, a US author of romance novels once wrote. A similarly light-hearted sentiment often inspires discu...
