Blinken tells China to stop producing so many industrial products and to stop trading so much with Russia; China says "Go pound sand"
Will Janet play the "All Your Assets R Belong to Us" with China?
Singaporean Sean Foo summarizes the economic issues at the forefront of the WEF Neocons’ war for unipolar dominance, the depopulation of much of the world, and the destruction of all rivals, centering on Russia and China.
Neocon spokesmodel Peter Zeihan has disclosed the plan for the destruction of China, should it come to conventional warfare. All they have to do is send some of the US Navy to the Indian Ocean to disrupt oil shipments to China, which depends on imports for most of its energy. China imported 11.3 million barrels of oil per day in 2023, up 11 percent from 2022. China gets only 19 percent of its oil imports from Russia.
Zeihan maintains that cutting off China’s oil imports would produce mass starvation and deindustrialization in a matter of months.
Today, 90 percent of trade between Russia and China is in the ruble and the yuan. Russia supplies cheap energy, minerals, and food; China supplies manufactured and finished goods.
The Neocons have succeeded in creating the Mackinder nightmare, a united Eurasian bloc — minus Europe, which is licking its wounds having given up Russian energy because the Neocons told them to, and blew up the Nord Stream pipeline to make sure the message got across. Consequently, Germany is deindustrializing.
The Neocons are playing a winner-takes-all game, and, in my view, they believe the only way they will win is by provoking more kinetic war, to create international uncertainty and drive capital into the dollar and US assets. A lot of this has already happened.
The dollar can continue to be the trading currency for the G7, but if China is smart in its handling of its yuan trade with its many trading partners, the yuan will become the reserve currency of the rest of the world.
A reserve currency is, after all, ultimately only a numeraire with a convenient payment system. Everybody still pays the price of goods in their home currency.
China is certainly not buying any more US debt and has whittled its current holdings down to about $775 billion, well under the $1 trillion-plus levels it carried for many years.
Will the US cut the big Chinese banks — the biggest in the world — off from SWIFT? I would expect so. The Neocons seem to want to destroy the international trade system in the rest of the world — and possibly everything else — so that they can have their Fortress of Solitude in a reindustrialized North America. China is working on a yuan payments system but it is not finished.
From MS Copilot GPT-4:
China is actively working on a yuan payment system, specifically a digital version of its currency known as the e-CNY or digital yuan. This project is spearheaded by the People’s Bank of China (PBOC) and aims to replace some of the cash in circulation with a digital currency1. The digital yuan is designed to be a risk-free alternative to commercial platforms and a replacement for physical cash, which is becoming less common1.
Real-world trials for the digital yuan are already underway, and while there is no official launch date for a broader rollout, the digital yuan is expected to be one of the first major central bank digital currencies (CBDCs) to be introduced globally2. The development of this digital currency reflects China’s efforts to modernize its financial system and potentially challenge the US dollar’s dominance in the international financial system1.
For background, see the post below.
The post below discusses the proposed “law” giving the US the authority to steal Russian assets — to which the Russians responded by taking $440 million of JP Morgan Chase’s assets in Russia.
FYI: here is a table of GDP and GDP percapita for the 10 largest economies in 2023.
Have a great day!