China and the US at sovereign debt war

Sgt. Mikki Sprenkle, Public domain, via Wikimedia Commons

US dollar hegemony has long been a standard feature of the global financial and economic system. But developments in recent years and months (weeks, even) suggests there are more than a handful of countries who are looking to rely less on the US dollar. Instead countries who have long been at the mercy of the US dollar are looking to take their finances into their own hands…and gold is set to play a key role.

The U.S. and China are reportedly ‘taking steps to renew their engagement and cooperation … however, it is one step forward and 10 steps backwards. 

This article originally appeared in GoldCore.