Seeing that the conflict between Russia and Ukraine has begun to attack the United States and the West, the United States is pondering financial sanctions to hit China.
As early as April 2024, the Wall Street Journal and other American media published their own articles, and the content was similar.
To sum up, the United States intends to sanction Chinese banks by expelling China from the SWIFT settlement system in order to threaten China to cut off ties with Russia.
[Expelling Russia and wanting to expel China]
But in fact, if the United States does this, it will greatly accelerate the further collapse of the dollar hegemony, and China has already arranged for the liquidation of the United States.
The threat of the United States
The current situation of the Russian-Ukrainian war is something that the United States did not expect at all.
The United States has always believed that using Ukraine to consume Russia, supplemented by the West's all-round economic sanctions, Russia will soon collapse and decay.
【Russia-Ukraine conflict】
However, the United States has far overestimated the military strength of Ukraine, Europe and the United States, and even if Russia's military strength has indeed declined compared with the Soviet Union, it is not an opponent that the West can easily defeat.
On the battlefield, the Russian army has shown considerable resilience, building complete fortifications in the most dangerous time window, dragging off the Ukrainian counteroffensive and depleting Ukraine's elite units in brutal trench warfare.
Immediately afterwards, Russia seized the opportunity of the emptiness of Ukraine's power and launched a large-scale counteroffensive to seize the initiative on the battlefield.
【Russia-Ukraine conflict】
The Russian army has also shown a strong ability to learn and adapt on the battlefield, and the Russian-Ukrainian battlefield has accelerated the recovery and growth of Russia's military strength.
However, given the current situation of domestic and foreign difficulties in the United States, the United States will definitely try to avoid direct war with Russia, so the United States has turned its attention to China.
The United States thinks that it will concentrate its firepower on China before Russia falls.
【Frontline Russian Army】
In early June 2024, U.S. Treasury Secretary Janet Yellen accused China of exporting large quantities of dual-use goods to Russia, arguing that China was providing military support to Russia, and sanctioned a number of Chinese companies and financial institutions on this basis.
Facts have proved that sanctioning a country like China, which is highly integrated with the dollar globalization system, is completely shooting itself in the foot, and it is precisely the dollar system that the United States wants to desperately maintain that will be damaged.
Seeing that it was being forced into a corner, the United States reintroduced the old method, saying that the United States was ready to kick China out of the SWIFT settlement system.
【SWIFT Settlement System】
To put it bluntly, kicking out of the SWIFT financial system is to prohibit China from participating in international trade, but as an important part of international trade, it does not matter whether China is in the SWIFT system or not, what matters is the system in which China is located.
Countries around the world are doing business with China, not for the settlement system itself, and the Americans are obviously a little out of priority this wave.
Before China could respond, Russia helped its Chinese partners speak out against the United States.
Russian presidential press secretary Dmitry Peskov said: US politicians should wake up from the dream of imperialist hegemony.
【Peskov】
In dealing with a powerful country like China, it is useless to rely on blackmail and threats alone, and China is not afraid of any threat from the United States at all.
China's next set
In fact, if the United States really dares to kick China out of the SWIFT settlement system, then the end of dollar hegemony will really come, and it can even be said that the United States is now jumping over the wall, which is actually part of China's strategic arrangement towards the United States.
As soon as the United States had just reported that it might kick China out of the settlement system, China announced that the BRICS would be expanded.
【BRICS Representatives】
Subsequently, more than 30 countries lined up for the upcoming BRICS meeting, including Saudi Arabia, the world's major oil country.
It can be seen that the SWIFT settlement system and the US dollar have never been necessary for international trade, and the BRICS countries and the RMB can completely replace them.
On June 5, Putin also praised China at a symposium with the heads of major international news agencies at the St. Petersburg International Economic Forum, saying that China has successfully created a "unique and quite efficient" economic model that outperforms the American model.
[Putin praised China's economic model]
Countries around the world are not fools, and the United States cannot grasp the lifeblood of the world economy just by scaring people, and the operation of the world economy is inseparable from China, the largest industrial country.
The United States has been making a mistake in its confrontation with China, that is, to view the conflict between China and the United States with the mentality of confrontation between the Cold War camps.
And this happens to be restrained by China's strategic concept of emphasizing mutual benefit and win-win non-alignment, because China emphasizes multinational cooperation and win-win results, which is exactly what the United States cannot provide to the world.
[The Belt and Road Initiative is a good example of China's emphasis on multinational cooperation and win-win results]
Therefore, it is a complete dream for the United States to suppress China economically, China is the creator of economic gains, and the United States is a predator at best, and the international system of the United States will benefit its own country at most, but other countries will become victims of exploitation.
China is different, and the line taken by China has always been to promote cooperation and joint creation of interests among countries on the basis of independence, which the United States will never be able to win.
At present, China has actually reached a relatively critical moment in the construction of a new international pattern and economic system, and it can be said that the set has been set up, and it is waiting for the United States to jump in.
【China's Foreign Cooperation】
However, due to the current large number of uncertainties at home and abroad, it is difficult to predict its next move, first of all, the election results are undecided, and it is difficult to confirm the next political line of the United States.
At the same time, there are various possibilities for the domestic situation in the United States, ranging from financial collapse, national disintegration, and even the outbreak of civil war, and China should be prepared for all kinds of scenarios to minimize the impact of the collapse of American hegemony on the current international order.
Sources:
[1] U.S. Treasury Secretary Janet Yellen will visit Chile next week to push for deeper ties in areas such as critical minerals. Interface News.2024-02-22
[2] Russia and Iran announced: abandon SWIFT!.Reference news.2024-01-09