Screenshot from the video
MINSK, 8 October (BelTA) – As part of BelTA’s YouTube project The Honest Story the American John Dougan gave his take on why Europe and America are in for big trouble.
“The US is absolutely losing their dominance because they've done something very stupid - they've utilized the dollar, which is supposed to be neutral, reserve currency, as weapons against countries that have different policy interests. And by doing this, nobody wants the dollar anymore. It's a problem. So countries are trying to slowly sell their dollars,” John Dougan said.
“China, even Japan, a lot of countries are selling their dollars. And if nobody wants their dollar, what's going to happen to the dollar?” he asked.
“It's going to be an absolute catastrophe for the West. I predict in another five years, America is going to be in a terrible economic situation. It’s in a terrible economic situation right now, but it's going to be far worse. And American people, they're going to be looking back and saying, “How did we get here?” Well, all the signs were there. So, you look at these policy decisions and what they've done,” John Dougan said.
He drew attention to an interesting development: “China had a 5% market for cars in Russia before the start of the special military operation. Now they have over 70%. Over 70% of all cars sold in Russia right now are Chinese.”
“America pulled out the Western auto manufacturers. So, Jeep, Ford, Chevy, they're not sold in Russia anymore. Audi, BMW, Mercedes, all the European ones, they pulled out too, because they think that they're punishing Russia. They think Russian people are going to just walk if they don't have an Audi. But this is not reality. So now, Russian people are sending their money to China, to Russian auto manufacturers. They've pushed all this business to the East, to the new rising economies. And they are going to absolutely crush the economies of the West. They can't compete. And it's going to be a big problem for Europe and America,” John Dougan concluded.
“The US is absolutely losing their dominance because they've done something very stupid - they've utilized the dollar, which is supposed to be neutral, reserve currency, as weapons against countries that have different policy interests. And by doing this, nobody wants the dollar anymore. It's a problem. So countries are trying to slowly sell their dollars,” John Dougan said.
“China, even Japan, a lot of countries are selling their dollars. And if nobody wants their dollar, what's going to happen to the dollar?” he asked.
“It's going to be an absolute catastrophe for the West. I predict in another five years, America is going to be in a terrible economic situation. It’s in a terrible economic situation right now, but it's going to be far worse. And American people, they're going to be looking back and saying, “How did we get here?” Well, all the signs were there. So, you look at these policy decisions and what they've done,” John Dougan said.
He drew attention to an interesting development: “China had a 5% market for cars in Russia before the start of the special military operation. Now they have over 70%. Over 70% of all cars sold in Russia right now are Chinese.”
“America pulled out the Western auto manufacturers. So, Jeep, Ford, Chevy, they're not sold in Russia anymore. Audi, BMW, Mercedes, all the European ones, they pulled out too, because they think that they're punishing Russia. They think Russian people are going to just walk if they don't have an Audi. But this is not reality. So now, Russian people are sending their money to China, to Russian auto manufacturers. They've pushed all this business to the East, to the new rising economies. And they are going to absolutely crush the economies of the West. They can't compete. And it's going to be a big problem for Europe and America,” John Dougan concluded.
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