The peoples of Western Europe had risen from one world of relative poverty and had learnt how to take the wealth from the Americas and transfer it to their own countries. This was slavery and latterly until 1920, indentureship. A whole set up of banks, shipping companies, and insurance companies had arisen to make these transfers possible. From the 1750s the European invaders turned their attention to Asia and systematically began the colonisation process anew. At the same time, as they attempted to colonise and extract the wealth of Asia, the colonising countries began the process we now recognise as industrialisation alongside the rapid growth of cities. The surplus resources extracted through colonisation were used to finance the growth of new industries.

When the Soviet Union collapsed in 1989, the western world was stunned. Their hyperbole of criticism and their lack of access to Soviet economic statistics left the Western countries unprepared for what to do next. The USA was prepared to celebrate; their Cold War had been successful, and they moved their best economists to Moscow to advise. From having no access and very limited knowledge, suddenly the situation was reversed. Their imperial ambitions soared.

The dollar system for trade works well enough for the Western countries. But for any country which the USA disapproves of, she imposes 'sanctions' and that limits the availability of dollars for trade. Cuba has been sanctioned for decades by the USA. Today there are now many new examples: Russia, Venezuela, North Korea, Iran, and Syria are perhaps the main sanctioned countries. Domestic banks across Europe are forced to demand that their customers conform to US foreign policy.

There are now movements to combat these hindrances. China has for some years wanted to use her currency, the renminbi, for world trade. China has already begun to avoid the dollar system, which regularly infuriates the leaders in Washington.