As we know from our reading and the notes, Europe is unifying economically. Today, if examined as one economy, the European Union is now economically as strong as the United States. Similarly, the Euro is gradually replacing the Dollar as the “currency of choice” among global investors.
In short, the USA is no longer the single economic leader of the globe. We have to share that position.
In what ways does this weaken the U.S. around the globe? How is it positive for the U.S? I don’t want to get back on the free trade discussion, but are we better off as the sole leader of global trade and economics, or would we be better off in a less dominant role?
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