"If the mood is sour even among US allies, we can be sure that much of the global south is ready to jettison this rules-based order, default on their debts to western financial institutions and possibly even renationalize their industries and resources. This would be the "bottom falling out" moment for the western financial system."
https://alexkrainer.substack.com/p/what-if-you-threw-a-rules-based-party
"If the mood is sour even among US allies, we can be sure that much of the global south is ready to jettison this rules-based order, default on their debts to western financial institutions and possibly even renationalize their industries and resources. This would be the "bottom falling out" moment for the western financial system."
Thanks for very insightful comment & reference!