Make Chimerica Great Again | Mitchell Presnick

Forget about the G7 and G20. The truly important focus is the US and China, and what we do together. First of all, we are moving into a multipolar world. This means that the US and China will be peer competitors, but there will also be other important countries rising and becoming more influential over time, such as India, Brazil, Indonesia, and Russia. 

 

» Donald Trump is probably the most pro-China President in US History. 

President Trump said that the US and China could solve all the world’s problems, and he is right. «
Mitchell Presnick.

 

We have this multipolar world, and within this context, we are going to see the formation of the G2. Forget about the G7 and G20. The real focus is the US and China and what we do together. President Trump said that “the US and China could solve all the world’s problems”, and he is right. He specifically said the US and China; not the US, China, BRICS, and the developing world. If China and the US are working together, everyone else—over 200 countries—will be aligned with one or the other, or both in some cases.

This, I believe, is the world order that is coming. I think it is going to be net positive for the world because it will provide more opportunities for countries that have been ignored. Africa did not get much attention until China entered and began developing business and resource opportunities there. Now, Africa is receiving a lot more attention from everyone. The same is true for Latin America. The US has been dominant in this hemisphere since the early 1800s, and yet Latin America and South America have struggled to develop. Objectively, it is clearly in the interest of South America for China to get more involved and help develop infrastructure there.

This might even encourage the US to do the same, which would be a net positive for South America. It would also create business opportunities, because one thing people don’t understand about the Belt and Road Initiative (BRI) is that every time China builds a railway, road, port, or airport in a developing country, it is also creating the foundation for a middle class who will later buy other goods from China. In other words, it's like brand building for Chinese industry. China, as a brand, is being built in these countries. People there will become familiar with Chinese cars, well-built roads, and high-quality products. As these consumers develop, they will naturally be more inclined to buy Chinese goods, which are well-priced and of good quality. This is something I think the US also needs to be doing.

Reference:
Mitchell Presnick (March 6, 2025) - Donald Trump, Probably the Most Pro-China President in US History.

Globalism is Dead, What Comes Next | Alexander Dugin

The order of great powers is something harsher than multipolarity. It is essentially a form of multipolarity, since it is neither unipolar nor bipolar, but something greater. However, in this case, only the state civilizations that currently exist are considered, not those that might emerge in the future based on deep-rooted identities. 

 

 » The EU now hardly has any chance of surviving. «

We are living in a new age of great power politics, and Europe is the big loser. The order of great powers, outlined by Trump's bold reforms, represents a redistribution of the spheres of influence in the world among the tetrarchy of the US, Russia, China and India. 

 

 » Trump's bold reforms, represents a redistribution of the spheres of influence. «

Everything else falls into the realm of the periphery. In theory, Europe could have joined, but not under the liberal lunatics who are currently in power. Europe is desperately clinging to the unipolar world, from which, however, the structural foundation, the US, has been removed. The EU now hardly has any chance of surviving. So, for now, it's the tetrarchy and the prospects of Yalta 2.0.

Alexander Dugin, March 7, 2025.

 

Alex Jones talks to Alexander Dugin about the global significance of the Trump Revolution, March 9, 2025.

The Wang Yi - Jake Sullivan Talks in Full

Sullivan - laughing stock of the world - wasn't even invited by Beijing. So why did he show up?

Reference:
Ministry of Foreign Affairs of the People's Republic of China (August 28, 2024) - Wang Yi and U.S. National Security Advisor Jake Sullivan Hold Strategic Communication.
The White House (August 28, 2024) - Readout of National Security Advisor Jake Sullivan’s meeting with Chinese Communist Party Politburo Member, Director of the Office of the Foreign Affairs Commission, and Foreign Minister Wang Yi.

Shen Yi (August 28, 2024) - On US Foreign Policy, US-China Relations and Economy. (video)

 » For the United States, the big cycles look mostly unfavorable. «

Ray Dalio “Power Index” for great powers and empires over time.

Facing Global System Change | Prime Minister Viktor Orbán of Hungary

It is a cliché that war is the continuation of policy with other means. It is important to add that war is the continuation of policy from a different perspective. So war, in its relentlessness, takes us to a new position from which to see things, to a high vantage point. And from there it gives us a completely different – hitherto unknown – perspective. We find ourselves in new surroundings and in a new, rarefied force field. In this pure reality, ideologies lose their power; statistical sleights of hand lose their power; media distortions and politicians’ tactical dissimulation loses its power. There is no longer any relevance to widespread delusions – or even to conspiracy theories. What remains is the stark, brutal reality. 

 

 » The war in Ukraine is our red pill. And now we must talk about reality. « 

Viktor Orbán - July 27, 2024.

[...] A change is coming, that has not been seen for five hundred years. This has not been apparent to us because in the last 150 years there have been great changes in and around us, but in these changes the dominant world power has always been in the West. And our starting point is that the changes we are seeing now are likely to follow this Western logic. By contrast, this is a new situation. In the past, change was Western: the Habsburgs rose and then fell; Spain was up, and it became the centre of power; it fell, and the English rose; the First World War finished off the monarchies; the British were replaced by the Americans as world leaders; then the Russo–American Cold War was won by the Americans. But all these developments remained within our Western logic. 

 

 Viktor Orbán meets President Xi Jinping - July 8, 2024.

This is not the case now, however, and this is what we must face up to; because the Western world is not challenged from within the Western world, and so the logic of change has been disrupted. What I am talking about, and what we are facing, is actually a global system change. And this is a process that is coming from Asia. To put it succinctly and primitively, for the next many decades – or perhaps centuries, because the previous world system was in place for five hundred years – the dominant centre of the world will be in Asia: China, India, Pakistan, Indonesia, and I could go on. They have already created their platforms, there is this BRICS formation in which they are already present. And there is the Shanghai Cooperation Organisation, in which these countries are building the new world economy.

FM Peter Szijjarto accuses EU of disrupting oil supplies from Russia - August 24, 2024.

I think that this is an inevitable process, because Asia has the demographic advantage, it has the technological advantage in ever more areas, it has the capital advantage, and it is bringing its military power up to equilibrium with that of the West. Asia will have – or perhaps already has – the most money, the largest financial funds, the largest companies in the world, the best universities, the best research institutes, and the largest stock exchanges. It will have – or already has – the most advanced space research and the most advanced medical science. In addition, we in the West – even the Russians – have been well shepherded into this new entity that is taking shape. The question is whether or not the process is reversible – and if not, when it became irreversible. I think it happened in 2001, when we in the West decided to invite China to join the World Trade Organisation. Since then this process has been almost unstoppable and irreversible.

 

[...] What is the European response to global system change? We have two options. The first is what we call “the open-air museum”. This is what we have now. We are moving towards it. Europe, absorbed by the US, will be left in an underdeveloped role. It will be a continent that the world marvels at, but one which no longer has within it the dynamic for development. The second option is strategic autonomy. In other words, we must enter the competition of global system change. After all, this is what the USA does, according to its own logic. And we are indeed talking about 400 million people. It is possible to recreate Europe’s capacity to attract capital, and it is possible to bring capital back from America.

Quoted from:
Cabinet Office Of The Prime Minister (July 27, 2024) - Lecture of Prime Minister Viktor Orbán 

at the 33rd Bálványos Summer Free University and Student Camp.

Putin wants Ukraine Ceasefire on Current Frontlines | Reuters

MOSCOW / LONDON, May 24, 2024 (Reuters) - Russian President Vladimir Putin is ready to halt the war in Ukraine with a negotiated ceasefire that recognises the current battlefield lines, four Russian sources told Reuters, saying he is prepared to fight on if Kyiv and the West do not respond.

 PUTIN READY TO STOP WAR FOR NEGOTIATED CEASEFIRE RECOGNIZING CURRENT FRONTLINES - 

two presstitutes at Reuters are claiming. They are citing "four anonymous Russian sources", 

and are warning Putin is ready to fight as long as it takes if West refuses.

MOSCOW, May 24, 2024

Three of the sources, familiar with discussions in Putin's entourage, said the veteran Russian leader had expressed frustration to a small group of advisers about what he views as Western-backed attempts to stymie negotiations and Ukrainian President Volodymyr Zelenskiy's decision to rule out talks. 

 

War is diplomacy by other means. 

And it is the winner on all battlefields dictating the terms of 'peace'.

» Russia is ready if the West wants to fight for Ukraine. «

Russian Foreign Minister Sergei Lavrov

MOSCOW, May 13, 2024

 

"Putin can fight for as long as it takes, but Putin is also ready for a ceasefire – to freeze the war," said another of the four, a senior Russian source who has worked with Putin and has knowledge of top  level conversations in the Kremlin.
 

♫  He, like the others cited in this story, spoke on condition of anonymity given the matter's sensitivity. ♫ 

 

Under Hibatullah Akhundzada's leadership, the Islamic Republic 

was dissolved and the Islamic Emirate of Afghanistan was re-established.

KABUL, August 15, 2021

 

Under General Abdourahamane Tchiani's leadership, the Republic of the Niger
resisted ECOWAS' invasion threats, kicked out all French and American
military, and called in Russian troops.

NIAMEY, May 3, 2024

 

Under Abdul-Malik Badruldeen al-Houthi's leadership, Ansar Allah overthrew
the previous regime in 2015, and took full control over the Republic of Yemen. 

SANA'A, May 24, 2024

The French Road to Nuclear War │ V.I.P.S.

ALERT MEMORANDUM FOR: The [U.S.] President [Joe Biden]
FROM: Veteran Intelligence Professionals for Sanity (V.I.P.S.)
SUBJECT: On the Brink of Nuclear War

DATE:  March 24, 2024

Mr. President:

France is reportedly preparing to dispatch a force of some 2,000 troops — roughly a reinforced brigade built around an armored battalion and two mechanized battalions, with supporting logistical, engineering, and artillery troops attached — into Ukraine sometime in the not-so-distant future.

 » From a military-technical point of view, we are certainly ready for nuclear war.

Our nuclear triad is more advanced than any other one. Everyone knows it, all experts do. «
Vladimir Putin, March 13, 2024.

This force is purely symbolic, inasmuch as it would have zero survivability in a modern high-intensity conflict of the scope and scale of what is transpiring in Ukraine today. It would not be deployed directly in a conflict zone, but would serve either as (1) a screening force/tripwire to stop Russia’s advance; or (2) a replacement force deployed to a non-active zone to free up Ukrainian soldiers for combat duty. The French Brigade reportedly will be supplemented by smaller units from the Baltic states.

This would be introducing combat troops of a NATO country into a theater of war, making them “lawful targets” under the Law of War. Such units would apparently lack a NATO mandate. In Russia’s view, however, this may be a distinction without a difference. France appears to be betting – naively – that its membership in NATO would prevent Russia from attacking French troops. Rather, it is highly likely that Russia would attack any French/Baltic contingent in Ukraine and quickly destroy/degrade its combat viability.

» In fact, it would be useful for the good of the cause for the restless French to send a few regiments to Neonaziland.

Their systematic destruction would not be the most difficult task, but the most important. 

And it will be a good lesson for the rest of Europe's restless cretins. «

 Dmitry Medvedev, March 20, 2024.

In that case, French President Macron may calculate that, after Russian attacks on the troops of NATO members – NATO mandate or not – he could invoke Article 5 of the NATO Charter and get the NATO alliance to intervene. Such intervention would likely take the form of aircraft operating from NATO nations – and perhaps include interdiction missions against tactical targets inside Russia. 

 

Doctrinally, and by legal right, Russia’s response would be to launch retaliatory strikes also against targets in NATO countries. If NATO then attacks strategic targets inside Russia, at that point Russia’s nuclear doctrine takes over, and NATO decision-making centers would be hit with nuclear weapons.

» REGULAR TROOPS from France, Germany and Poland have arrived, by rail and air, to Cherkassy, south of Kiev. «

 Pepe Escobar via Telegram, March 22, 2024.

 

We do not believe Russia will initiate a nuclear attack against the U.S., but rather would leave it up to the United States to decide if it wants to risk destruction by preparing to launch a nuclear strike on Russia. That said, Russian strategic forces have improved to the point that, in some areas – hypersonic missiles, for example – its capability surpasses that of the U.S. and NATO. 

 

In other words, the Russian temptation to strike first may be a bit stronger than during past crises, and we are somewhat less confident that Russia would want to “go second”. Another disquieting factor is that the Russians are likely to believe that Macron’s folly has the tacit approval of some key U.S. and other Western officials, who seem desperate to find some way to alter the trajectory of the war in Ukraine – the more so, as elections draw near.

 

 » Not ISIS-K: US, Britain, Ukraine behind Crocus City Hall attack. «
March 27, 2024.

What Needs to Be Done

Europe needs to understand that France is leading it down a path of inevitable self-destruction.
The American people need to understand that Europe is leading them to the cusp of nuclear annihilation. 

[...]

Quoted from:
ALERT MEMORANDUM FOR: The President. FROM: Veteran Intelligence Professionals for Sanity. DATE:  March 24, 2024. 

 

 

» After France, Poland threatens attack on Russia. «

March 27, 2024.

Despite Biden's Latest Insult, Putin Still Supports Biden's Re-election

» This is the last existential threat. It is climate. We have a crazy son of a bitch like that guy Putin and others and we always have to worry about nuclear conflict, but the existential threat to humanity is climate, « US President Joe Biden told a small group of influential campaign donors yesterday in San Francisco. Last night the Russian leader responded.

  » Biden is a more experienced person, 

he's predictable, he's an old-school politician. «

Putin did not resort to petty name-calling. Instead he was stating that he was  still right about preferring Biden over Trump and that Biden's fit of temper was actually appropriate as it helps Biden's reelection: » He can't say 'Vlad, good job. Thanks, you helped me a lot.' We understand what's happening domestically in the US, « Putin said. 

 

 

February 21, 2024.

The Rest Against The West │ Samuel P. Huntington

In the 21st century the central axis of world events will be conflict between Western and non-Western civilizations, conflict between the West and the Rest. The Rest has three options:

 

The Rest against the West: The geopolitics of distributed heartlands.

• Surrender and submission. 
• Isolation and protection of sovereignty and values. The costs are very high. Only few pursue this option.
• Protection and defense of values and sovereign institutions through constant development of economic-military power and through cooperation and alliance with the West's other enemies.

Reference:

Samuel P. Huntington (1993) - The Clash of Civilizations.

 

 Projection from Bharat.

Benjamin Netanyahu, 1990.
 

January 03, 2024.

The man who ruined all the US’s illegitimate plots in West Asia:
Qasem Soleimani, Major General, Commander of 41st Tharallah Division of Kerman Quds Force (1957-2020).
» The world is witnessing an asymmetrical confrontation between two opposing sides, which has displayed the peak of brutality as well as desperation on one side and innocence along with heroic resistance on the other side. With a broader look at the years of confrontation and conflict between Global Arrogance and its vassals in West Asia on the one hand, and the Resistance Front and popular forces on the other hand, there remains no doubt that the astonishing work by Hamas and the residents of Gaza in Palestine are the domino effect of successive defeats of the hegemons and global colonialism in the region. «

See also:

Imran N. Hosein (2023) - The Alliance of Islam and Eastern Orthodox Christianity.

Alexander Dugin (2023) - Fighting the Civilisation of Dajjal - The Antichrist.

MFA of PRC (2023) - US Hegemony and Its Perils.

Alexander Dugin (2022) - The Civilization-State.

The US Must Conduct Serious Soul-Searching | MFA of PRC

While a just cause wins its champion wide support, an unjust one condemns its pursuer to be an outcast. The hegemonic, domineering, and bullying practices of using strength to intimidate the weak, taking from others by force and subterfuge, and playing zero-sum games are exerting grave harm. The historical trends of peace, development, cooperation, and mutual benefit are unstoppable. The United States has been overriding truth with its power and trampling justice to serve self-interest. These unilateral, egoistic and regressive hegemonic practices have drawn growing, intense criticism and opposition from the international community.

 » It is a pivotal moment, it's one that's crystallizing the change that's happening, and it is accelerating.
If you are an American, and you want to understand why it's happening so fast, look no further than at the
White House and the person who is there in the Oval Office, and the team around him, this terrible gaggle
of ideologues and neocons who have captured control of the foreign policy of the US. «
The Duran, February 25, 2023

Countries need to respect each other and treat each other as equals. Big countries should behave in a manner befitting their status and take the lead in pursuing a new model of state-to-state relations featuring dialogue and partnership, not confrontation or alliance. China opposes all forms of hegemonism and power politics, and rejects interference in other countries' internal affairs. The United States must conduct serious soul-searching. It must critically examine what it has done, let go of its arrogance and prejudice, and quit its hegemonic, domineering and bullying practices.

Quoted from:
Ministry of Foreign Affairs of the People's Republic of China (Feb 20, 2023 16:28) - US Hegemony and Its Perils,
Conclusion. 

 

See also:
The Duran (Feb 25, 2023) - China And Russia Align To Challenge Collective West.

 Geopolitical Economy Report (Feb 28, 2023) - US military plans for war on China, backing Taiwan separatists.

Geopolitical Economy Report (Feb 26, 2023) - West is out of touch with rest of world politically, EU-funded study admits.

 

The US' Cultural Hegemony: Spreading False Narratives | MFA of PRC

The global expansion of American culture is an important part of its external strategy. The United States has often used cultural tools to strengthen and maintain its hegemony in the world.

 

◆ The United States embeds American values in its products such as movies. American values and lifestyle are a tied product to its movies and TV shows, publications, media content, and programs by the government-funded non-profit cultural institutions. It thus shapes a cultural and public opinion space in which American culture reigns and maintains cultural hegemony. In his article The Americanization of the World, John Yemma, an American scholar, exposed the real weapons in U.S. cultural expansion: the Hollywood, the image design factories on Madison Avenue and the production lines of Mattel Company and Coca-Cola.

There are various vehicles the United States uses to keep its cultural hegemony. American movies are the most used; they now occupy more than 70 percent of the world's market share. The United States skilfully exploits its cultural diversity to appeal to various ethnicities. When Hollywood movies descend on the world, they scream the American values tied to them.

◆ American cultural hegemony not only shows itself in "direct intervention," but also in "media infiltration" and as "a trumpet for the world." U.S.-dominated Western media has a particularly important role in shaping global public opinion in favor of U.S. meddling in the internal affairs of other countries.

The U.S. government strictly censors all social media companies and demands their obedience. Twitter CEO Elon Musk admitted on 27 December 2022 that all social media platforms work with the U.S. government to censor content, reported Fox Business Network. Public opinion in the United States is subject to government intervention to restrict all unfavorable remarks. Google often makes pages disappear.

U.S. Department of Defense manipulates social media. In December 2022, The Intercept, an independent U.S. investigative website, revealed that in July 2017, U.S. Central Command official Nathaniel Kahler instructed Twitter's public policy team to augment the presence of 52 Arabic-language accounts on a list he sent, six of which were to be given priority. One of the six was dedicated to justifying U.S. drone attacks in Yemen, such as by claiming that the attacks were precise and killed only terrorists, not civilians. Following Kahler's directive, Twitter put those Arabic-language accounts on a "white list" to amplify certain messages.

◆ The United States practices double standards on the freedom of the press. It brutally suppresses and silences media of other countries by various means. The United States and Europe bar mainstream Russian media such as Russia Today and the Sputnik from their countries. Platforms such as Twitter, Facebook and YouTube openly restrict official accounts of Russia. Netflix, Apple and Google have removed Russian channels and applications from their services and app stores. Unprecedented draconian censorship is imposed on Russia-related contents.

◆ The United States abuses its cultural hegemony to instigate "peaceful evolution" in socialist countries. It sets up news media and cultural outfits targeting socialist countries. It pours staggering amounts of public funds into radio and TV networks to support their ideological infiltration, and these mouthpieces bombard socialist countries in dozens of languages with inflammatory propaganda day and night.

The United States uses misinformation as a spear to attack other countries, and has built an industrial chain around it: there are groups and individuals making up stories, and peddling them worldwide to mislead public opinion with the support of nearly limitless financial resources.

Quoted from:
Ministry of Foreign Affairs of the People's Republic of China (Feb 20, 2023 16:28) - US Hegemony and Its Perils,
Chapter V: Cultural Hegemony - Spreading False Narratives.

 

See also:
The Duran (Feb 25, 2023) - China And Russia Align To Challenge Collective West.

The US' Technological Hegemony: Monopoly and Suppression | MFA of PRC

The United States seeks to deter other countries' scientific, technological and economic development by wielding monopoly power, suppression measures and technology restrictions in high-tech fields.

 

◆ The United States monopolizes intellectual property in the name of protection. Taking advantage of the weak position of other countries, especially developing ones, on intellectual property rights and the institutional vacancy in relevant fields, the United States reaps excessive profits through monopoly. In 1994, the United States pushed forward the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), forcing the Americanized process and standards in intellectual property protection in an attempt to solidify its monopoly on technology.

In the 1980s, to contain the development of Japan's semiconductor industry, the United States launched the "301" investigation, built bargaining power in bilateral negotiations through multilateral agreements, threatened to label Japan as conducting unfair trade, and imposed retaliatory tariffs, forcing Japan to sign the U.S.-Japan Semiconductor Agreement. As a result, Japanese semiconductor enterprises were almost completely driven out of global competition, and their market share dropped from 50 percent to 10 percent. Meanwhile, with the support of the U.S. government, a large number of U.S. semiconductor enterprises took the opportunity and grabbed larger market share.

◆ The United States politicizes, weaponizes technological issues and uses them as ideological tools. Overstretching the concept of national security, the United States mobilized state power to suppress and sanction Chinese company Huawei, restricted the entry of Huawei products into the U.S. market, cut off its supply of chips and operating systems, and coerced other countries to ban Huawei from undertaking local 5G network construction. It even talked Canada into unwarrantedly detaining Huawei's CFO Meng Wanzhou for nearly three years.

The United States has fabricated a slew of excuses to clamp down on China's high-tech enterprises with global competitiveness, and has put more than 1,000 Chinese enterprises on sanction lists. In addition, the United States has also imposed controls on biotechnology, artificial intelligence and other high-end technologies, reinforced export restrictions, tightened investment screening, suppressed Chinese social media apps such as TikTok and WeChat, and lobbied the Netherlands and Japan to restrict exports of chips and related equipment or technology to China.

The United States has also practiced double standards in its policy on China-related technological professionals. To sideline and suppress Chinese researchers, since June 2018, visa validity has been shortened for Chinese students majoring in certain high-tech-related disciplines, repeated cases have occurred where Chinese scholars and students going to the United States for exchange programs and study were unjustifiably denied and harassed, and large-scale investigation on Chinese scholars working in the United States was carried out.

◆ The United States solidifies its technological monopoly in the name of protecting democracy. By building small blocs on technology such as the "chips alliance" and "clean network," the United States has put "democracy" and "human rights" labels on high-technology, and turned technological issues into political and ideological issues, so as to fabricate excuses for its technological blockade against other countries. In May 2019, the United States enlisted 32 countries to the Prague 5G Security Conference in the Czech Republic and issued the Prague Proposal in an attempt to exclude China's 5G products. In April 2020, then U.S. Secretary of State Mike Pompeo announced the "5G clean path," a plan designed to build technological alliance in the 5G field with partners bonded by their shared ideology on democracy and the need to protect "cyber security." The measures, in essence, are the U.S. attempts to maintain its technological hegemony through technological alliances.

◆ The United States abuses its technological hegemony by carrying out cyber attacks and eavesdropping. The United States has long been notorious as an "empire of hackers," blamed for its rampant acts of cyber theft around the world. It has all kinds of means to enforce pervasive cyber attacks and surveillance, including using analog base station signals to access mobile phones for data theft, manipulating mobile apps, infiltrating cloud servers, and stealing through undersea cables. The list goes on.

U.S. surveillance is indiscriminate. All can be targets of its surveillance, be they rivals or allies, even leaders of allied countries such as former German Chancellor Angela Merkel and several French Presidents. Cyber surveillance and attacks launched by the United States such as "Prism," "Dirtbox," "Irritant Horn" and "Telescreen Operation" are all proof that the United States is closely monitoring its allies and partners. Such eavesdropping on allies and partners has already caused worldwide outrage. Julian Assange, the founder of Wikileaks, a website that has exposed U.S. surveillance programs, said that "do not expect a global surveillance superpower to act with honor or respect. There is only one rule: there are no rules."

Quoted from:
Ministry of Foreign Affairs of the People's Republic of China (Feb 20, 2023 16:28) - US Hegemony and Its Perils,
Chapter IV: Technological Hegemony - Monopoly and Suppression.

 

See also:
The Duran (Feb 25, 2023) - China And Russia Align To Challenge Collective West.

The US' Economic Hegemony: Looting and Exploitation | MFA of PRC

After World War II, the United States led efforts to set up the Bretton Woods System, the International Monetary Fund and the World Bank, which, together with the Marshall Plan, formed the international monetary system centered around the U.S. dollar. In addition, the United States has also established institutional hegemony in the international economic and financial sector by manipulating the weighted voting systems, rules and arrangements of international organizations including "approval by 85 percent majority," and its domestic trade laws and regulations. By taking advantage of the dollar's status as the major international reserve currency, the United States is basically collecting "seigniorage" from around the world; and using its control over international organizations, it coerces other countries into serving America's political and economic strategy.

 

◆ The United States exploits the world's wealth with the help of "seigniorage." It costs only about 17 cents to produce a 100 dollar bill, but other countries had to pony up 100 dollar of actual goods in order to obtain one. It was pointed out more than half a century ago, that the United States enjoyed exorbitant privilege and deficit without tears created by its dollar, and used the worthless paper note to plunder the resources and factories of other nations.

◆ The hegemony of U.S. dollar is the main source of instability and uncertainty in the world economy. During the COVID-19 pandemic, the United States abused its global financial hegemony and injected trillions of dollars into the global market, leaving other countries, especially emerging economies, to pay the price. In 2022, the Fed ended its ultra-easy monetary policy and turned to aggressive interest rate hike, causing turmoil in the international financial market and substantial depreciation of other currencies such as the Euro, many of which dropped to a 20-year low. As a result, a large number of developing countries were challenged by high inflation, currency depreciation and capital outflows. This was exactly what Nixon's secretary of the treasury John Connally once remarked, with self-satisfaction yet sharp precision, that "the dollar is our currency, but it is your problem."
 

◆ With its control over international economic and financial organizations, the United States imposes additional conditions to their assistance to other countries. In order to reduce obstacles to U.S. capital inflow and speculation, the recipient countries are required to advance financial liberalization and open up financial markets so that their economic policies would fall in line with America's strategy. According to the Review of International Political Economy, along with the 1,550 debt relief programs extended by the IMF to its 131 member countries from 1985 to 2014, as many as 55,465 additional political conditions had been attached.

◆ The United States willfully suppresses its opponents with economic coercion. In the 1980s, to eliminate the economic threat posed by Japan, and to control and use the latter in service of America's strategic goal of confronting the Soviet Union and dominating the world, the United States leveraged its hegemonic financial power against Japan, and concluded the Plaza Accord. As a result, Yen was pushed up, and Japan was pressed to open up its financial market and reform its financial system. The Plaza Accord dealt a heavy blow to the growth momentum of the Japanese economy, leaving Japan to what was later called "three lost decades."

◆ America's economic and financial hegemony has become a geopolitical weapon. Doubling down on unilateral sanctions and "long-arm jurisdiction," the United States has enacted such domestic laws as the International Emergency Economic Powers Act, the Global Magnitsky Human Rights Accountability Act, and the Countering America's Adversaries Through Sanctions Act, and introduced a series of executive orders to sanction specific countries, organizations or individuals. Statistics show that U.S. sanctions against foreign entities increased by 933 percent from 2000 to 2021. The Trump administration alone has imposed more than 3,900 sanctions, which means three sanctions per day. So far, the United States had or has imposed economic sanctions on nearly 40 countries across the world, including Cuba, China, Russia, the DPRK, Iran and Venezuela, affecting nearly half of the world's population. "The United States of America" has turned itself into "the United States of Sanctions." And "long-arm jurisdiction" has been reduced to nothing but a tool for the United States to use its means of state power to suppress economic competitors and interfere in normal international business. This is a serious departure from the principles of liberal market economy that the United States has long boasted.

Quoted from:
Ministry of Foreign Affairs of the People's Republic of China (Feb 20, 2023 16:28) - US Hegemony and Its Perils,
Chapter III: Economic Hegemony - Looting and Exploitation. 

 

See also:
The Duran (Feb 25, 2023) - China And Russia Align To Challenge Collective West.