“… A stronger variant of this theme of protectionism is for the US to default. … Default sounds like a cataclastic option – stock markets would crash, the cost of debt would soar, the dollar would suddenly turn into monopoly money, and there would undoubtedly be a deafening international uproar. … A default  scenario is the one China ought to fear most … The US would not be the only loser. Remember that not only would China lose the value of all the American debt it held, but importantly such a US default would, at a stroke, jeopardize China’s own development strategy, which counts on the US (government and individual citizens) borrowing cash to buy its goods and keep the Chinese populace employed. …

North America could easily become self-sufficient. … In this game of poker, America still holds the cards, and the upper hand …”

aus: Dambisa Moyo: How the West was lost. London: Penguin 2011, S. 188-199.

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