China has won the trade war and now it is building its alternative military, trade and trade payments network to US hegemony.
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https://www.wsj.com/world/crink-axis-china-russia-iran-alliance-urkaine-war-3dab9921?mod=djem10point
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https://archive.ph/eTVkO
'China, Russia, Iran and North Korea have united to defy Western sanctions and undermine U.S. interests.
An axis uniting China, Russia, Iran and North Korea—dubbed CRINK by some Western officials—has emerged from the war in Ukraine, a loose alliance united by a mutual disdain for the U.S.-led world order.
That coalition’s cooperation has steadily deepened as the four have exchanged food, oil, arms, diplomatic support and military assistance in a manner designed to remain beyond the reach of Western sanctions.
Now, President Trump’s determination to end the war creates a moment of truth for the entente. If he brokers a cease-fire, the bonds between the four could loosen.
But a failure to do so—along with greater U.S. pressure on Iran and China—could unintentionally deepen this “common market of autocracies,” says John Park, a nonresident senior fellow at the Atlantic Council, who focuses on Indo-Pacific security and economic statecraft.
Cooperation between the four nations isn’t new. Russia and Iran allied to support the Assad regime in Syria, while China has long been North Korea’s main patron and Beijing and Moscow’s relationship has been deepening for years.
But the war multiplied those ties and helped knit the quartet together. The four are “promoting alternative systems to compete with the United States, primarily in trade, finance and security,” according to a recent assessment by U.S. spy agencies.
Russia’s need to fuel its war effort has put Moscow at the center of the entente. It has turned to Chinese firms for goods critical for making the arms it needs in Ukraine.
As their economies draw closer, China and Russia have increasingly used their own currencies for their trade, shunning the U.S. dollar. Using dollars makes them more vulnerable to sanctions, while both nations also harbor ambitions to boost their currencies’ influence in world trade.