Why would those Arab leaders risk having their wealth seized by the West like the case of Russia, by going against the USA and Israel? The seizure of Russian assets is already what the Chinese would consider killing the chicken to teach the monkeys.
China is acutely aware of that risk as well, which is why China is selling off USA assets and creating the BRI. Moreover, China still has some leverage and deterrence against the USA in that USA assets in China are no small potato. Instead of buying more USA assets with the trade surpluses as was done in the past, China is investing those surpluses in the BRI, extending loans to poor countries to build infrastructures. Those are safe investments as the infrastructures cannot be seized as they belong to other countries and are moreover not inside the USA. The other important point to note was while the loans were made in US$, the repayment of the loan was to be in Yuan. Wasn't that a masterstroke by China recycling the US$ into Yuan? Was that why there is so much demonization of the BRI, with all the hogwash about debt traps and even sabotaging being employed?
These steps by China under the radar are all de-dollarization moves that the USA may just underestimate, but the consequences are profound. The USA can underestimate the effect of moves taking place under the BRI and BRICS at its own peril, thinking that the US$ hegemony is still untouchable. Let the enemy continue to sleep, while the earth is shifting under its feet.
Anonymous
Common sense will tell us that the Arabs are held hostage by their wealth in the USA and the West. There is nothing they can do, unless they sell them off progressively, which is unlikely. Just look at how the USA is controlling Mickey Marcos today, using the ill-gotten wealth of his father to keep him obedient and do the USA's bidding, which is to provoke China. The USA will do the same to the Arabs and keep them on a leash. Not the poorer Muslims though, as we can clearly see.
ReplyDeleteA second people's uprising is on the cards in the Philippines, all tied to corruption, the same reason as the first uprising against the corrupt regime of Ferdinand Marcos.
Philippine banana, durian and mango farmers are facing big problems with exports to China. As I said earlier, China need not fire a shot but can inflict tremendous damage just keeping silent and leaving Chinese citizens to do the necessary. I think what China has done is hurting and the Philippine people, especially farmers, are feeling the pain.
DeleteChina is blessed with a huge market that can make or break suppliers of commodities if they intend to play Russian roulette with China. China has all angles covered after years of careful planning and is ready for any eventuality.
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Silly Pinoys, eat also not enough, want to fight with China.
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