Two colossal mistakes are leading to the collapse of the US$ hegemony - the sanctioning and the tariffs.
The
sanctions have failed, and the seizure of Russian assets was the straw
that broke the camel's back. What the USA and the West did to Russia is
causing countries to ask the question - Who is next? Which is why they
are in favor of getting away from the US$ hegemony and supporting
de-dollarization. The USA is known to be totally untrustworthy, turning
their face the very moment they leave the negotiating room. The USA
thinks that exceptionalism is their prerogative to invoke against all
others. Agreements and treaties can just be brushed aside at its whims
and fancies. How can countries expect fairness in dealing with the USA?
Tariffs
are the other mistake of the USA and the West. China does not depend
only on the USA and EU for its trade, large it may be. Russia is a new
market for China to explore and the Global South, many rich in resources
and food production, are opening up to trade outside the US$. These are
countries whose raw materials and agricultural products are able to
afford China the alternatives to depend on, and to retaliate by refusing
supplies from the West in favor of the Global South. In doing so, the
use of the US$ is definitely not going to figure in the transactions,
thereby accelerating de-dollarization. There are a thousand and one ways
to skin a cat.Anonymous
9/19/2024
Two colossal mistakes are leading to the collapse of the US$ hegemony
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