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Yes- USA and China are at war via proxy in Ukraine, Middle East and Latin America.
USA is desperate to show it can still exercise hegemony over the Americas- time will tell if it still can.
If USA can take Venezuela and start pumping its crude oil into US refineries USA might then take on Iran without too much disruption to global oil markets and prices.
The power projection of the nation state is just as important to the wealth of nations as free markets.
USA depends upon its military to support the petrodollar and ignores international law in the pursuit of global hegemony.
China is contesting that hegemony.
This may be obvious to some but I'm interested in whether the theory that this is about oil, China and Taiwan is true. China gets oil from V. China trying to annex Taiwan which Trump doesn't want. So this a way of applying economic leverage to China to back off. Thoughts?