This is all a function of the dollar as a reserve currency. The US is optimized to be the place to own things. The rest of the world is where people make things.
Is it really all a function of the dollar being a reserve currency though? The UK has gone through a very similar transformation starting with Thatcher.
Is it really all a function of the dollar being a reserve currency though? The UK has gone through a very similar transformation starting with Thatcher.