But this is not the only dreadful choice that Global South governments must make. With the world dividing into two super cloud fiefs, one dollar-based and another yuan-based, they are being forced to choose which feudal lord to submit to. Gone are the days when their oligarchs could borrow from China, or collect profits from selling grain in Shanghai, and use the money to buy properties in California or derivatives in Wall Street. Their new debt crisis is forcing the Global South’s ruling classes to pick a side. To which cloud fief will they commit future earnings from the selling of their
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