Firstly,
BRICS is doing all it can to break the hold of the US$ hegemony. Why
would China still want to help hold up the US$? In 2008, China had no
beef with the US$ on issues, and did provide help by buying USA
Treasuries of some magnitude. Fifteen years later, the situation is
different, with all the BRICS countries now coming together for a
specific purpose - to de-dollarise. China will not disappoint them,
particularly Russia.
Secondly, with all the provocations,
fabrications and accusations thrown at China over the last couple of
years and getting more serious, would it be in China's best interest to
be helping the USA? Knowing that helping them also means enabling the
USA to continue to use its US$ hegemony to print fiat money at will, in
order to keep increasing its spending on its military, that is being
used to threaten and confront China?
Thirdly, apart from a trade
war still ongoing, there is now a technology war of sanctions against
China as well, and China is starting to push back against those
sanctions and prioritising self sufficiency in all essential needs.
China has sanctioned USA companies like Micron, banning certain
technology outflow for national security reasons, tightening its exports
of rare earth elements, dumping of USA Treasuries as well and backing
Huawei's collection of royalties from USA companies making use of Huawei
patents it holds in communication, a step that Huawei has never taken
before.
Finally, China need not have to hold more US$ Treasuries
going forward, since it has the added alternative of buying more gold
instead, for a more safer investment strategy. With de-dollarisation
getting more widespread, and more deals being done outside of the US$,
China also does not need to hold too much US$ as a reserve, the same
with all other countries now making deals outside of the US$.
The
sensible thinking is that China would be unwise to continue to hold
more treasuries in an effort to help the USA, since that help in 2008
has not been reciprocated, but instead turned against China. The big
question is why should China want to help this time around?
Anonymous
5 comments:
China will not help US, but Singapore will !
Some are saying that besides pleading for help from China economically, Yellen is there to clean up the shit spilt by Biden calling Xi a 'dictator'. For Asians, this is serious spite. Xi is not like Biden, dementia tainted and easily forgets what he heard. Asians have long memories. That is why Japan is so worried about its past atrocities.
It takes more than Janet Yellen to calm the Chinese side. Joe Biden is waiting for an invite from Xi that will never come, so his visit to calm the Chinese is never going to happen. Yellen was already in China earlier in June, before the 'dictator' scorn, and it would take a miracle this time around to pacify the Chinses side.
Remember, after being called a 'pariah', Mohammed bin Salman, the Crown Prince of Saudi Arabia, would not forgive Biden for the slight, nor forgive Biden despite all his efforts to mend the fence even by visiting Saudi Arabia himself, to no avail, and even getting treated unlavishly. To add insult to injury, the Saudis gave Xi a red carpet welcome later, with jets flypast and a guard of honour reception. It was to be a slap on the face of Biden to show the world.
The USA can do what it likes with the European leaders, even to the extent of asking them to destroy their own economies, and they will still bend over backwards to accomodate the wishes of the USA. German Foreign Minister, Angelina Baerbock, even had the gall to say that helping Ukraine is even more important than helping her own German people. And the German people still take all that shit lying down.
And Mohammed bin Salman is still deeply hurt. He is now increasing oil prices again to compensate for the cuts in production recently. And OPEC+ is solidly behind him. This is not good for the USA inflation. And is even worse for the Europeans.
Exactly !!!
Why buy more American toilet paper? Whether buy or no buy, America will continue to vilify & prepare for a big war with China.
Giving face to the big bully is self defeating. Words & reasoning doesn't work with bully. Bully only understand the same violence they perpetuate.
China must not be stupid to buy American debt. Yellen is smiling sheepishly because she needed China to throw money at her. Once she gets back to US, she will be anti China just like all the hawks in Washington. They would not be grateful but would laugh at the stupidity of Chinese leaders.
Stop being stupid, China! Have you not be conned enough by the evil Americans?
There will come a time when people will say enough is enough. Nobody can have unlimited patience, not even God. God will still punish the evil despite being forgiving.
Sometimes very patient people can be very nasty when the line is crossed. That is why there is this saying: 'Let sleeping dogs lie'.
Japan attacked Pearl Harbour during WW2, and that brought the USA into the Pacific War, to the detriment of the Japanese. Japanese Marshal Admiral of the Imperial Japanese Navy, Isoroku Yamamoto, was then heard to have said: 'I fear all we have done is to awaken a sleeping giant and fill him with terrible resolve'. That came true.
Napoleon Bonaparte was also quoted to have said: 'Let China sleep, for when she wakes, she will shake the world'. China will do more than shake the world. China is going to change the geopolitical landscape, if she is being pushed into a corner and forced to be nasty. The Dragon has awaken.
Post a Comment