Well, the EU is going to explode. The currency union aspect of it was never a good idea in the first place. It's a matter of when not if that happens.
By contrast, in the US I think it is a matter of if not when we will ever see a return to historic "normal" interest rates (about 5%). The Modern Keynesians are really about to break through into the mainstream. And they maybe onto something about the old monetary indicators being inappropriate for the modern economy. After all, if we're looking for price inflation to be the tail that wags the dog, there are a lot of good reasons that have cropped up in the 21st century for that to have stopped being a reliable indicator, among them globalization and the digital sharing economy.
In China, it's a race between rising debt and sovereign investments. There's a chance that all the infrastructure building that the Chinese have engaged in will grab them a share of that seignorage that allows the US to print money so freely without consequence. For now, China is relying on its planned economy to hold things together and they are hoping that will hold until everything that is the One Belt One Road matures and can contribute significantly to their economy. That's a big bet. But they probably have the best leadership out of the 3 regions mentioned here.
That's my view @crypto.piotr, thanks for asking!
Dear @shanghaipreneur
Thank you for your great comment.
Is that really how do you see it? I wonder how US in the past managed to unite all states and introduce USD to all of them. I wonder why same couldn't happen in europe.
ps.
Recently I've bumped into this site: https://www.usdebtclock.org/world-debt-clock.html
It does shows debts of all major countries and I noticed that with few exceptions everywhere debt is increasing. However 4 countries (including Poland and Germany) seem to have their debt going down.
And I was wondering how could that be possible? Also I realized that Poland has very good ratio between debt to GDP (around 50%), which is great comparing to countries like France (107%) or Italy (147%). Not to mention JApan (261%).
I found it so confusing. It would suggest that Poland have more stable economy than majority countries out there. Looking at those numbers could even suggest that Japan is serious financial trouble.
Mind sharing your thoughts?
Yours
Piotr