I wonder why Chinese capitalists would be… huawary of the West
please clap
Ha, on a serious note though, decoupling from the west as quickly as possible is the only rational option for China. Even if the west wasn’t trying to wage an economic war, it’s pretty clear that there’s a repeat of the 2008 crisis looming. Being dependent on the western economic system is a huge liability.
of course, Amerika’s treatment of Chinese companies is only one of many reasons to dedollarize
It’s kind of funny how history rhymes. As I recall, USSR was sanctioned by the west when the great depression hit, and its economy was largely unaffected by the crash because of that, which gave it a lot of legitimacy at the time.
Seems like now we’re looking at a repeat of that happening, except now there’s a whole BRICS economy that’s going its own way. Once the west crashes, that’s basically going to discredit western economic system for the rest of the world.
yeah, they’ve sanctioned so many countries with such an important role in production that it’s backfiring hard
(side note:
either there’s a bug afoot or you got those upvotes really quickly)Friendly-fire ratio’d
it struck me both because it happened right after I posted my reply (went from around 4 to 17), and it’s a lot higher than the number of upvotes on the post itself, which (AFAIK) is unusual
Maybe Yogthos is just really popular/s
Yogthos is the spectre of gommusim haunting lemmy.ml
I wonder…
How much total value (liquid, real estate, financial instruments, commodities) that are part of the US economy are owned by Chinese nationals? What would happen if they started just selling it all and selling the currency to American holders of foreign currencies?
What if they did this as the BRICS currency comes online?
What if they sold all their US commerical real estate holdings?
I get the feeling the USA is about to experience a very rapid decline in the run up to 2030.
We’re already seeing coastal housing markets about to collapse as insurers write them off entirely.
Can you imagine if peak oil gets validated at the same time?
This is real bad for the USA. Let’s hope the solution isn’t Kissingerian.
Yeah, this looks like a start of a disaster for the US. As I recall, China ended up making huge investments into US after buying up a bunch of US bonds in 2008 to bail US out. If all that investment is reversed that’s going to hit hard. It’s also not clear who else would even be in a position to make a similar kind of a bailout this time around.
How funny would it be if the BRICS bank decided to make a bailout offer in exchange for disarmament
:chef’s kiss:
There is 0 shot that will ever happen, if our government ever considered accepting that deal the MIC would pull off a coup in record time
Let’s hope the solution isn’t Kissingerian.
I saw that post about Algeria offering $1.5bn to underpin the BRICS bank and couldn’t help but think what they could’ve done with Qaddafi’s support, too. Murdered just before his dream would come true? Or will the US put a stop to this latest effort?
I don’t see how it’s possible, this time. It’s easy to isolate e.g. Nkrumah or Qaddafi, but when 30%+ of global GDP has a public end united plan to de-dollarise…
I think we’re not far off finding out just how delusional are the US imperialists. It’s now or never for them. Are they willing to gamble all life on earth for a chance at a few more decades of capitalism? Or will they accept that this is the start of their undoing and there’s no coming back?
Murdered just before his dream would come true?
It’s pretty revolting that Gaddafi is dead and Libya lies in ruins and Sauds are now doing exactly what he died for.
Are they willing to gamble all life on earth for a chance at a few more decades of capitalism?
Depressing but I think the answer to this is yes, absolutely.
What does acceptance even look like?
Maybe in a negative sense? Like not nuking anywhere. I can’t see acceptance being much more than that. I’m hoping that with the time and space that BRICS provides by dedollarising, the western left gets it’s act together and prevents the imperialists from causing too much damage. Got to remain optimistic, however dire it looks.
Last time I tried to game it out I got denigrated for fantasizing.
It needs thinking about. To be able to respond to whatever is coming next. There are just so many variables so a big part of it will always sound like a fantasy! The best we can hope for is working out a range of scenarios and hoping for the best.
At this rate, climate change might do for the western world before a revolution. The temperature on land and in the ocean, fires everywhere. Ice caps are melting so fast this year that the last time we saw this little ice was over 7 million years ago, according to Xitter (I believe the X is pronounced in the Chinese way, like the X in Xi).
Whatever the imperialists have up their sleeves better not involve logistics because their chances of pulling it off are dwindling by the day. Not that this is anything to be pleased about in general.
What if they did this as the BRICS currency comes online?
I wasn’t aware of BRICS currency plan and that sounds huge. Anybody have anything I could read in more depth on that?
I don’t have any specific articles but you could look at geopolitical economy report.
Hey, everybody wins! The West has been calling for this for ages right? And China definitely doesn’t want their funds caught up in the West.
it’s turning into one of those, we want to decouple… oh no, not like that situations
Like an indecisive toddler
China investing in Asia over the west as RCEP comes into force and the west is driving straight into yet another crisis, what a shock. Pivoting towards investing in an area of fast growing economies with favorable terms of investment, and makes logistical sense for China is surely a sign of “China’s fragile economic situation". Why else would they invest in the Jungle over the Garden?
American oligarchs definitely aren’t funneling millions of dollars into these useless think tanks for actual research. Of course there’s going to be a decline of foreign investment in terms of dollars as the dollar shot up in value. A certain country bombed a pipeline and secured a major market for their natural gas making their currency extra valuable. The actual RMB value of foreign investments hasn’t changed much.
The only useful thing that China could’ve invested in west for was tech, which the US will do whatever meddling they can to block. Investing in western real estate at this point is just asking to become a bag holder. It’s not just because it’s a bubble as the west has failed to deleverage and let the market cool as China did. The west also has no qualms in stealing other countries holdings in the west as they did with Venezuela and Russia. If it were the other way around and a country were to nationalize the west’s holdings, the west is guaranteed to engage in a regime change operation in that country.
