China's Game: How The U.S. Took Control. Wednesday's Edition

How China Is Winning And Will Win The World. Series 21 #3

By 1900, Britain had run the global financial system for nearly a century. The pound sterling was the world’s reserve currency, London financed international trade, and British banks handled the majority of global commerce. If a merchant in India traded with a merchant in Brazil, the transaction settled in pounds sterling through a London bank. Deals th…