Having a reserve currency gives a country special advantages, like easier borrowing and more power in international trade. This can make things cheaper for its citizens and boost their purchasing power.
However, relying too much on being the reserve currency can hurt domestic industries, leading to job losses and higher inequality. This often pushes the country to adopt protectionist policies to revive local production.
Countries that want to move away from the reserve currency face risks like financial instability. It's hard to balance the benefits of being a reserve nation while fixing domestic economic problems.
Uncertainty is a normal part of life and can actually help us stay alert and learn new things. It's important to accept that some things are unpredictable, which makes it easier to handle tough situations.
When making decisions, it helps to separate uncertainties that can be reduced by gaining more information from those that can't be controlled. This way, we can focus on what we can change instead of feeling overwhelmed.
Taking action is a great way to reduce uncertainty. Even small steps can lead to new insights and help us feel more confident in our choices.