To Bring Back U.S. Manufacturing, Get the World to Dump the Dollar

Courtesy of The Wall Street Journal. By John D. Mueller

America’s role as provider of the international reserve currency has driven up the price of American goods.

Donald Trump promised to “make America great again,” but he might make America Great Britain. To re-industrialize the U.S. economy, President Trump must avoid the mistake that de-industrialized Britain: namely, he must end the dollar’s role as the world’s chief reserve currency.

A century ago when Britain began to lose its place as the world’s leading power, it was suffering economic maladies today’s Americans will find familiar: declining exports, large government deficits, and a huge amount of foreign debt. The British pound’s…

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