I don’t see how this doesn’t lead to best case scenario a massive global recession and worst case end of US global hegemony and the petro dollar.
From the view point of the US, worst case is giving in allowing oil to be traded in yuan and having no effective presence in the region. Debt would become unserviceable, massive currency devalution, etc, end of an empire. But best case scenario is the US somehow does a regime change or is able to secure the strait by taking control of the area. Either of those scenarios would takes months and months and all the while oil goes up another $20 a barrel every week. By May, gas would become unaffordable for low wage workers and the economy comes apart.
I don’t see how this doesn’t lead to best case scenario a massive global recession and worst case end of US global hegemony and the petro dollar.
From the view point of the US, worst case is giving in allowing oil to be traded in yuan and having no effective presence in the region. Debt would become unserviceable, massive currency devalution, etc, end of an empire. But best case scenario is the US somehow does a regime change or is able to secure the strait by taking control of the area. Either of those scenarios would takes months and months and all the while oil goes up another $20 a barrel every week. By May, gas would become unaffordable for low wage workers and the economy comes apart.