The challenge to be the strongest and richest country in the world and world dominance between China and the USA is being fought differently, with different strategies. The brutish and rogue Americans are trying to retain its position by force, mainly relying on their military might, to control and rule the world. China is adopting a totally different strategy to stay on top, mainly by soft power and economic well being, a win win strategy for all in a multi polar world.
Economic development and trade are the key ingredients in China's strategy to be the world leader, not war and destruction. For the last 4 decades of China's emergence as a global player, China has been focusing mainly on competing with the Americans in providing everything, consumer goods particularly, to the world offering better quality and affordable prices that are acceptable and welcomed by the Global South countries. When the Global South countries find Chinese goods, products and services good and affordable, such goods and services would in a way be very cheap and attractive in the American and European markets, irresistible, and making the average American and European feel richer and sustaining a high quality of life affordably.
China is now producing almost everything the world needs, from civilian to military goods. Whatever the Americans can produce, China can also produce, much better and cheaper. Such a strategy cannot be sanctioned away. No one would want to turn away good quality goods and services from China to pay for more expensive and lower quality products and services from America and Europe. China has won in civilian and consumer products and services across the board. The latest to fall is the American icon, the automobile industry, being replaced by Chinese EVs. China has superior products in 5G, satellite position system, high speed trains, mobile phones. Boeing's monopoly is collapsing. The rest is history.
China is not stopping. China is now coming out with all the military hardware that countries of the Global South need, and better and cheaper. From small arms to drones, ships and aircraft, air defence systems, China has it all. The crown jewel of American supremacy in fighter jets, the F35, a trouble infested but touted as a world best fighting machine is now no more. China's J35 is in direct competition with the F35, sleeker, lighter, more powerful, more sophisticated, advanced and of course cheaper. Pakistan has already placed its order to beat the Indian Rafale. The J35 would wipe out the last vestiges of American superiority in military weapons. China's drones, hypersonic missiles, anti aircraft carrier and anti ship missiles, etc etc are a class above the Americans, and also cheaper. At the Zhuhai Airshow, China laid out a buffet table that would satisfy every weapon needs of the Global South countries, and very gentle with their pockets. The days when America is selling to the world in consumer goods and services and military hardware is over. The F35 junk would be dismissed by everyone.
The latest strategy, the last stronghold of American goods that props up the American military war machine, the dollar, is now being challenged by China and BRICS. It is not just de dollarisation. China is also selling the dollar, with the first dollar bond being offered to Saudi Arabia, and over subscribed by 20 times despite a lower interest rate... and issued by China. Can anyone thought of this, China issuing and selling American dollar bonds in competition with the Americans? The greatest advantage of this bond is that China can afford to pay back with interest, solidly backed by China's war chest of at least $1 trillion hard US dollars, and no fear of being hijacked or robbed by the Americans. After the low thinking behaviour of seizing other country's savings in America and American banks, the credibility and trustworthiness of the Americans have gone up in smokes.
The American clowns in Washington thought they could go on selling their questionable dollar bonds forever, ie borrowing cheaply and absorbing all the excess funds from countries of the world. China is saying no to that. China is cutting this last life line of the Americans. Countries of the world can now get the dollars they want from China, issued by China, and park their savings with China. Janet Yellen would be crying, please buy my Treasury Bonds. She would have to put up a very high price to be able to succeed.
No more free money for the Americans. The Global South countries can get their dollars from China! What a stroke of genius! China is slamming the final door shut to the Americans.
