James Meadway
@meadwaj
Economist and co-director of Verdant, a think tank for a just and green future. Views here my own.
Joined June 2009
13.5K Following 40.8K Followers
The massive purchases of USD assets as reserves by the UK over the last 15 years or so - almost exactly as China divested - is another one of those slow burn failures that one day will suddenly turn hot and aggressive.
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The UK bought an absolute lemon. USD and GBP will sink together and Britain’s reserves are mostly in USD. What did they get for this transaction? Not much. An occasional pat on the head; an occasional kicking. 🇺🇸🇬🇧
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