BRI Spells the End of US World Hegemony, US Dollar Dominance


Popularresistance.org’s article “U.S. imperialism views the One Belt One Road as an existential threat to the domination and monopoly of the dollar” points out the reason of US attacks at China’s BRI initiatives though I do not agree with its orthodox socialist views.

The article says,“U.S. imperialism views the One Belt One Road as an existential threat to the domination and monopoly of the dollar. China is becoming deeply connected to Asia, Europe, and Africa and this spells doom for U.S. imperial hegemony.”

The article has the vision to point out the threat of BRI to the dominance of US dollars.

According to the article BRI has promoted economic growth of participating countries so that trade between China and BRI countries has grown fast to a quarther of China’s entire trade. It says, “The more that China dominates trade and investment worldwide, the less likely that these nations will continue to use the U.S. dollar to conduct its economic affairs.” No wonder the US has been attacking BRI so fiercely.

The article’s orthodox socialist view regards EU as US ally in attacking BRI. No, EU has been fighting against dominance of US dollar for a long time as proved by its development of a unified European currency the Euro.

Moreover, EU has becoming interest in BRI since Chinese President Xi Jinping’s visit to Italy and France. It is certainly interested in the expansion of the market in developing countries cause by BRI.

So is Japan and South Korea as proved by their desire for the establishment of Regional Comprehensive Economic Partnership (RCEP).

I have to point out that China pursues harmony and cooperation instead of conflicts as advocated by the article. It is the US that is used to create conflicts and resort to force when it is able to. US trade war with China is a typical example. China is forced to fight back, but it is still sincere in seeking win-win cooperation with the US. However, the US is fond of conflicts. It always refuses win-win cooperation in the world.

Comment by Chan Kai Yee on popularresistance.org’s article, full text of which can be viewed at https://popularresistance.org/u-s-imperial-decline-and-the-belt-and-road-initiative-the-most-important-global-struggle-of-the-century/

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4 Comments on “BRI Spells the End of US World Hegemony, US Dollar Dominance”

  1. komonsense says:

    from bloomberg finance :”TRUMP PANICS, RUSHES INTO XI’S ARMS”, this is the first unbiased report from western press that i’ve read so far

    Like

  2. Steve says:

    US has run out of trump cards in the trade war. All US and UK can do now is to shout thousands of miles away into Hong Kong to support the bunch of useless unfilial bums of protesters trying to destroy the stability and prosperity of HK and the motherland. The US/UK scoundrels are hoping that the HK riots will spread into the mainland to disrupt the Chinese government, but to no avail. US is in decline and the collapse of US democratic governance is inevitable. A major part of US economy is in finance and debts. US has to sell treasury debts to raise finance, add in the soon to be basket case of US dollar dominance, the party is over.

    Like

    • johnleecan says:

      Agree 100%

      Looks like more and more people can now see the hypocrisy of western nations. Even westerners are now able to visually compare how police in their nations brutally and violently treat peaceful protesters as compared with Hong Kong police restrained treatment of rioters in Hong Kong. More and more people see the hypocrisy of western politicians and the double standard treatments against China. People are now learning the trickery and treacherous American way of operating color revolutions and they see similarities in Hong Kong and are able to rightfully conclude the Americans are behind them around the world.

      The mostly moronic, stupid and lazy youths of Hong Kong just can’t get good grades in school and good jobs are the reasons how they are easily duped, easily swayed, easily influenced and easily brainwashed by the American authorities and CIA. The once arrogant and proud Hong Kong people are now beaten very badly in almost everything by mainlanders.

      Ah yes, the Americans are at it again. Meddling and trying to overthrow governments are their ultimate mission in everything they do. All those charities and NGOs are all fronts to spy and topple governments around the world. You just can’t trust the Americans, British or basically western allies of the USA.

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      • Steve says:

        100% Agree – USA are treacherous scoundrels. The unfilial bums of HK protesters betrayed their ancestors and the good governance of their Chinese government, vandalising national emblems and raising foreign flags. That scumbag Hellary tweeting international support for the unruly HK protesters. What a bitch.

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