Reply #17: Not yet I think ... [View All]

[the_outsider]

US market is still way too important for the growth of Chinese and Japanse export economy. A US recession is bad for them. But over a period of time, slowly but surely it will become less and less important and EU, Japan and BRIC (Brzil, Russia, China, India) will grow faster than US and trade more with each other bypassing USA. US will just provide military services to the rest of the world and run up huge trade and budget deficits. A time will come when the economies of ALL countries will be tied to each other and noone will be able to afford a war without self-destructing. US military services will no longer be needed then. That will be the time when they dump US treasuries and bonds. Not till then..