0 sats \ 2 replies \ @sancristrader 8 Oct \ parent \ on: Can America Survive Global De-Dollarization? econ
That transition that you are talking about would unlikely happen without a global nuclear war.
Both sides know that a nuclear war is one that nobody wins...if China is still at some disadvantage in that area the disadvantage is quickly closing as Russia increasingly shares its military technology with China.
This is why they are already fighting via proxies in Ukraine and Middle East and fighting over supply chain control and protocol setting, biotech, robotics, space, nanotech EVs solar and wind technology.
China already leads on most of these areas.
Strategic asymmetric warfare.
Russia and Iran supply China with discounted oil and gas and directly attack US dependents costing the US billions while China profits.
Russia and Iran demonstrate Chinas ability to provide almost complete substitute for the USD SWIFT trade network. Chinas range of manufactured goods and appetite for oil and gas and most other raw materials makes it a potential trade protocol alternative to any nation which might feel constricted by the constant threat of US sanctions. If for example, Saudi Arabia chose to join the Chinese DCEP trade payments alternative to USD SWIFT that would be pretty much game over for USD fiat debt global hegemony... one could almost get the impression China are just taking their time and in no great hurry.
But, the moment that trade payments swing over to DCEP (when USD is no longer seen as solid (which we all know it isn't already!)) the process could be very swift, Taiwan could be occupied with little resistance and while the US could launch its nukes it would only lose what remaining dignity it could have saved.
This war is more than most, an economic one, where direct military action is not possible.
If the USA were to declare war on China it would immediately render most large US corporates bankrupt via the Trading with the Enemy Act.
China has already won the trade war- that almost certainly gives it the advantage- it is very difficult (though not impossible, Churchill ultimately did triumph against Hitler, at least once US joined the war when it had already almost been won by UK and Russia!) to see the US coming back from the hugely weakened position it is in now.
reply
deleted by author
reply