What are the U.S. measures after "Petro-dollar"?
What are the U.S. measures after "Petro-dollar"?
The status of the U.S. dollar, which has become the world's key currency since World War II, has been shaken by the Nixon administration's abolition of the gold standard in 1971, and the U.S. signed a mutual agreement (1974) in which Saudi Arabia only paid for oil sales in dollars as a condition of guaranteeing Saudi security, but the "Petro-dollar" agreement disappeared in June this year as Saudi Arabia refused to extend the agreement
The political and economic benefits of the U.S. dollar continuing its status as a key currency are simply "core benefits" that cannot be missed by the U.S., so I think the U.S. has been preparing for a scenario to maintain the U.S. dollar's status as a key currency in preparation for the post-Petro-dollar era
One of them is considered to be a "semiconductor-dollar" 構想 similar to "Petro-dollar."
In the future, it encourages the production of key semiconductors in the U.S., provides astronomical government subsidies to foreign companies such as Taiwan, and guarantees Taiwan's 保 to be incorporated into the supply chain of U.S. semiconductor production
Even if the "Petro-dollar" agreement disappears, it will be able to function as a sufficient alternative to maintain the status of the key currency of the U.S. dollar. It is expected to be a very realistic alternative given the prospect of 100 trillion dollars in AI-related demand alone in the future
I wonder if this is why major media in the United States are ignoring the abolition of the "Petro-dollar" agreement by Saudi Arabia, almost without mentioning it