[Financial crisis once again exposes US weakness]
Not long ago, the Bank of America thundered one after another, which stunned countries around the world. After all, the United States has always considered itself a financial powerhouse, with the financial sector accounting for a significant portion of its GDP. However, banks in the United States have failed, and more than one! Such unexpected events have led to capital flight from various countries, most of it to Hong Kong.
[From the perspective of chip sanctions, the United States is ruthless to its allies]
In order to suppress China's chip industry, the United States has formed the so-called chip alliance to try to completely block China. Japan followed suit with export restrictions on 23 types of chip-making equipment. However, such a move has dealt a serious blow to Japanese companies and left Japan at the mercy of trade. What's more frightening is that the US chip bill requires that production cannot be expanded in Chinese mainland for 10 years, which makes companies such as TSMC deeply deceived.
【Is the sanctions of China's chip industry an opportunity or a challenge】
From a certain perspective, U.S. sanctions on China's chip industry may not be a bad thing. After all, sooner or later, that day will come. Since this is the case, it is better to prepare early and develop the technology yourself, so as not to be controlled by others at a critical moment.
[China begins to shake off the shackles of the dollar]
China has begun to use the renminbi in energy deals with oil majors such as Russia, Iran and Saudi Arabia, which has challenged the dollar. Now, China has freed itself from the dollar's soybean and iron ore trade, which is undoubtedly a major shock to the dollar. Brazil's intention to settle their own currencies with China is a challenge to the dollar.
【Brazil becomes a key partner for China】
Brazil not only has an important position in soybeans, but is also China's most important supplier of iron ore. Brazilian President Lula has a very different pro-American policy from his predecessor, and cooperation with China shows no signs of stalling. Recently, Brazil and China planned to settle their trade in their respective local currencies, which is a major breakthrough for Brazilian trade.
[China frees itself from World Bank control]
The election of Brazil's former president as the new president of the BRICS New Development Bank means that China has freed itself from the control of the World Bank and gained greater autonomy. China has won, and this is a foregone conclusion.
In general, the weaknesses of the United States have been exposed, and the ruthless suppression of allies and China's development have become the focus of world attention. At the same time, China is getting rid of the shackles of the dollar and strengthening cooperation with Brazil and other countries, opening up a new path for its own development. While the challenges remain daunting, China is gradually opening up its future with great strength.