If the United States does not attack the renminbi for a long time, the United States has nothing to do, and if it makes three major losses, it will become a global laughing stock
On the global financial stage, currency wars are like an undercurrent surging deep sea, full of unknowns and uncertainties. In recent years, the U.S. offensive against the renminbi has been particularly eye-catching, but for a long time, its various tactics have failed to shake the renminbi's stable position. In the face of this stalemate, the United States seems to have fallen into a situation where it has no choice but to throw out three major losses again in an attempt to turn things around. However, these measures not only failed to fulfill their wishes, but instead made the United States a laughing stock in the international community, which is embarrassing.
1. The U.S. "sniper" war against the renminbi
The U.S. crackdown on the renminbi began on multiple levels. For a long time, US politicians and financial institutions have been constantly advocating the "theory of RMB depreciation" in an attempt to force China to lower the RMB exchange rate through public opinion pressure, so as to enhance the competitiveness of US exports. However, this strategy did not work as expected. The exchange rate of the renminbi in the international market has remained stable, and even showed a trend of appreciation in some periods.
Faced with this situation, the United States has had to adopt more radical measures. First, the United States is trying to suppress the renminbi through international trade frictions. During the Trump administration, the United States frequently imposed tariffs on Chinese goods in an attempt to force China into complication through a trade war. However, this strategy has also failed. The Chinese government has taken a series of countermeasures, which have not only successfully defended its own interests, but also caused the Sino-US trade friction to gradually escalate, which has had an adverse impact on the global economy.
Second, the United States has made three major losses
After a long period of attack, the United States had no choice but to throw out three major losses again in an attempt to turn the situation around.
The first trick is the "numbers game of Ukrainian aid". The United States has announced that it will provide tens of billions of dollars in military aid to Ukraine to support Ukraine in its fight against Russia. However, the truth about this aid is a big surprise. In fact, most of these funds are not directly allocated to the Ukrainian government, but will need to be repaid by Ukraine in the coming years, including through the purchase of American arms. This form of "aid" has undoubtedly taken the international community by surprise, and they have questioned the true intentions of the United States.
The second trick is "the reversal of the old debts of the Republic of China". The U.S. is trying to suppress the renminbi by speculating on debts owed during the Republic of China. This move is undoubtedly an ignorance of history and a disregard for reality. During the Republican period, China was in a turbulent period, with frequent changes in government and chaotic economic order. In this case, the so-called debt has long been a historical problem that cannot be traced back and confirmed. However, the United States has tried to use this as an excuse to pressure China to repay this non-existent debt. This absurd act has undoubtedly shocked and outraged the international community.
The third trick is the "futility of the interest rate frenzy". In the face of the strength of the renminbi, the United States had to once again resort to the old trick of raising interest rates. However, the rate hike did not curb the appreciation of the renminbi as the US had hoped. On the contrary, the interest rate hike has exacerbated the uncertainty of the global economy and triggered panic in the international market. Against the backdrop of interest rate hikes, the renminbi has remained strong against the US dollar, and even hit new highs in some periods. This result undoubtedly made the United States feel very embarrassed and helpless.
3. The reasons and effects behind the U.S. losses
The reasons behind the United States' adversarial moves are worth pondering. First, the United States is trying to assert its global hegemony by suppressing the yuan. As the world's largest economy and currency reserve, the United States has been trying to preserve its economic interests and global influence by controlling the international monetary system. However, with the rise of China and the acceleration of the internationalization of the renminbi, the United States feels that its hegemony is threatened. As a result, the United States is trying to weaken China's economic power and global influence by suppressing the renminbi.
Secondly, the United States is trying to divert domestic contradictions and economic pressure by creating international tensions and conflicts. In recent years, the United States has faced serious economic, social, and political problems. In order to divert the attention of the domestic population and alleviate social contradictions, the United States tries to stimulate patriotic sentiment and support among the people by creating international tensions and conflicts. However, instead of addressing the root causes of domestic problems, such an approach would exacerbate tensions and the risk of conflict in the international community.
These tactics have had a profound impact on the U.S. economy and international image. First, these moves have greatly damaged the image of the United States in the international community. As one of the world's largest economies and superpowers, the United States is supposed to handle international affairs responsibly. However, these detrimental moves have exposed the selfishness and short-sightedness of the United States, and caused the international community to question and disagree with it even more. Second, these initiatives have exacerbated uncertainty in the global economy. As one of the leaders of the global economy, the policy trends of the United States have an important impact on the global economy. However, these losses have triggered panic and turmoil in international markets, which has adversely affected the global economic recovery. Finally, these measures have also weakened the economic power and competitiveness of the United States itself. The practice of maintaining one's hegemony by suppressing rivals' currencies is outdated. In today's increasingly close global economy, cooperation and win-win cooperation between countries is the right direction to promote economic development. The United States should abandon this outdated hegemonic mentality, actively cooperate and compete with other countries, and jointly promote the stability and development of the global economy.
4. Conclusions and prospects
After attacking the renminbi for a long time, the United States had nothing to do, and made three major losses, but in the end it became a global laughing stock. This result once again proves that hegemonism and unilateralism are outdated, and that in today's increasingly close global economy, cooperation and win-win cooperation among countries is the right direction to promote economic development. In the future, we should uphold the principles of equality, mutual benefit and win-win cooperation to carry out international cooperation and competition, and jointly promote the stability and development of the global economy. At the same time, we should also be vigilant