India made a wrong and silly move, by broadcasting its superpower intentions too early. Even Germany and Japan, not having announced any semblance of their superpower intentions, but just competing too well on economic grounds, were taken down by the USA from competing with them. All done without a whimper by Germany and Japan, obediently and under the thumb of the USA.
China is choosing to differ in bowing to the USA. China and Russia is providing a challenge to the USA for the rest of world to follow, making China as a pure competitor to challenge the USA that John Joseph Mearsheimer is talking about.
China kept its intention close to its chest for probably three decades, without resorting to loud announcements, and content to bid for time with just upgrading its military defence capabilities, lifting the bulk of its population out of poverty in the interim, enhancing its manufacturing capabilities to compete successfully globally, investing and improving its domestic infrastructure, expanding its soft power across all of Africa, Latin America, Middle East and Asia successfully with its BRI projects and infrastructure developments overseas.
China used the decades well and fruitfully, instead of opting for confrontation and wasting its resources. The trade surpluses with the USA had been well recycled to the chagrin of the USA. It mitigated the importance of the IMF and World Bank.
Even then, the USA, after taking its eyes away from China towards the Middle East and its preooccupation with terrorism, soon realised, knew and feared belatedly what China is doing and became nervous and paranoid when China overtook them in GDP (PPP) and also closing in fast on its nominal GDP as well. Even cutting off China from many technologies and researh over many fields failed to stop China's progress. And so the demonisation, hyping up of threats to instil fear in countries around China, forming alliances to contain China in technology, possibly the only one area still left for them to exploit to keep China down.
But the rise of BRICS is posing yet another big problem for the USA going forward. This is too big and wide a grouping to contain and kept down. And BRICS is growing, with lately, even Mexico touted as a super economy, joining. They can try to ignore the BRICS threat as overblown at their own peril, just like the China rising from the ashes to become a geo-political hot potato blowing up in their face of the USA.
BRICS will carry the de-dollaristion move to another level. That is basically the movement that will be the straw to break the camel's back in de-dollarisation if it succeeds, and it must not fail, in order to provide the world with an alternative to the US$ hegemony and the SWIFT control.
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But India has asked its banks and traders to avoid using the Chinese yuan to pay for Russian imports based on political consideration, Reuters reported on Monday, citing sources in New Delhi. India's reluctance to accept yuan settlement is due to jealousy of the Chinese, and it is the odd party in BRICS and SCO - a double-headed snake as it is also a member of the US-led QUAD to contain and suppress China. New Delhi has long seen China as geopolitical competitor and principal enemy, thus it is not surprising to see reports that India remains wary of yuan settlement.
India is a poor third world country with grandiose ambition to be a superpower. It can't even compete in the league of second and third tier developed world like Japan or Germany, not even against poor Britain, but everyday wanting to compare with China. China is looking into the rear window and seeing India fading away.
By the way, who wants to trade in Indian rupees?
"And BRICS is growing, with lately, even Mexico touted as a super economy, joining."
The sooner Mexico sign up for BRICS, the better for S America collectively with a combined population of 440M 'brown people'.
The filthy rich yanks should lobby and encourage this. It will stem the flow of illegal immigrants entering the Usa. Success of BRICS will ensure a thriving economy for 440M brown prople who will return the favour to needy yanks out of jobs. Looks to me a win-win scenario for 'brown people' and dumbass yanks.
Mexico joining BRICS is significant. It is a rising super economy. It is just bordering the USA, the first BRICS country sharing a common border with the USA. And Mexico is also the first Central American country to join BRICS. More of those Central American countries will surely follow.
And there were also talk that China has been dicussing the construction of another canal in Central America, via Nicaragua, that will pose a competition to the USA controlled Pananma Canal. Inevitably that has given rise to demonisation, and cold water being poured over the project by you know who. How that project pans out is still unknown and expected to cost US$40 billion tentatively for its construction.
Mexico joining BRICS will enjoy the advantage of having more trade with the other South American countries, who are also intending to join BRICS like Argentina and Brazil, who are already on board by now. The latter two are big economies in themselves, with rich resources and masterminding the creation of a common South American Currency. That is also a significant move. When that happens and trade with China deviates from the US$ into their own currencies, well, that does not need any explanation of the consequences.
So many other African nations are also intending to join, together with those in the Middle East. The G7 will eventually be left with a small grouping and losing its influence slowly and surely.
The boasting of the Indians on some social media sites are sometimes laughable and totally ridiculous. And inevitably it is always anti-China rhetoric, the same DNA inherited from other Western MSM and sites.
China's success in bringing Iran and Saudi Arabia together is also one issue the Indians are very unhappy with. Particularly with China and Iran now closing ranks, and China pushing out India years ago in the Iranian Chabahar Port Project, which the Indians were eyeing. The loss of that project to China was difficult to swallow for the Indians, and they bear much animosity towards the Chinese encroaching on their turf.
That Port project together with others was somewhat like a barter trade between Iran and China then, with China undertaking the project in return for Iranian Oil, bypassing the US$ sanctions imposed by the USA and the West. Together with other projects, the total value of the exchange was said to be around US$400 billion then, spread over a couple of years anyway. It is much more today, with the Yuan usage increasing in adoption.
China and Russia were also involved in similar deals of about US$400 billion for Russian energy in exchange for China's development deals years ago. Those figures have ballooned into much more over the years, with more Russian energy flowing into China. Now of course they can do it in Rubles and Yuan, bypassing the US$.
Apparently, the world could see that trade can still be done outside the US$. That is not lost in the eyes of the rest of the world. And that is why the sanctions on Russia failed to work. Not that sanctions have worked against Venzuela, North Korea, Iran, Cuba, Myanmar and Afghanistan, not to mention collapsing them for good. The irony is that despite all the sanctions on North Korea, it is now a nuclear state, with Kim firing his crackers like nobody's business. Oops, Kim means business to the Japanese and South Koreans, leaving them hysterical every time.
Half of the US belongs to Mexico, from California to Texas. All robbed by the Americans under the barrel of the gun.
Very embarrassing for India to self-proclaim just a few weeks ago that it's the voice and leader of the Global South, and then China seal the peace pact between Saudi and Iran . . .
They might claim credit for what Singapore is today. Without the Indian workers to build Singapore, Singapore would become a third world country.
Without the Indian bankers, Singapore would not be the financial centre and there would be no DBS.
Without the Indian professors, Singapore universities would be ranked in the several hundreds.
Without the the Indian IT experts, Singapore would not become a smart city.
India, a Third World country, helping Singapore to become a First World developed country.
India with fuzzy banks and bankers providing all the top bankers for banks in Singapore.
https://youtu.be/2qiGvVe3-Nw
Wow see that Janet Yellen aka Yelling a nervous wreck being grilled by the Senator.
Died of Heart Failure?
Poor woman.
Looking at Janet Yellen being grilled by Senator John Kennedy, you could not but feel that she is clearly and really unsuitable for the job, just like dementia Joe. Why is the USA putting all these elderly and infirm folks into holding such positions? It is clearly elderly abuse, nothing more? Shouldn't some world body be looking at this United States of Abuse?
Your Bank Could Be Closed for Up To A Month. Interview with Clive Thompson:
https://www.youtube.com/watch?v=GwDRpseOSYk
Sounds like Ferfal's Argentina 2000 or Asia 1997 economic crisis!
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