[cherry]

what are the ramifications for the other countries if they do this?.....I think they would be really awful....

We've supported the mid-east oil exporters and China etc...what happens when our large economy no longer buys their stuff?

[allmost]

what are the ramifications for the other countries if they do this?.....I think they would be really awful.... We've supported the mid-east oil exporters and China etc...what happens when our large economy no longer buys their stuff?

Oil exporters are hit hard by a falling Dollar. Oil (for now) is denominated in dollars so every increment of revenue they earn is worth less if they try to import anything from countries whose currency is strengthening relative to the greenback. Plus they need to charge more which generally decreases demand. China has been gearing for War in the past few decades. They've been buying up officially and promoting internally massive acquisitions of dollar denominated commodities, such as gold, as a hedge. China's actions are the most worrisome as they hold vast amounts of US treasuries (over $800 billion) and can easily influence a precipitous drop if they chose to do so. It would hurt their exports in the short term so the moves are more of a slow pull back at this point. Any outbreak of hostilities in places such as Taiwan could see them simply wagging treasuries in the air over our heads while they act with aggressive impunity. A pretty rotten situation we're in. Our people will pay with pay with extensive misery in the short term, our allies will most likely pay with their lives.