Tag: Trade War
The Trump administration last week cut its fourth and biggest arms sale to Taiwan, sparking a furious condemnation from Beijing that the US was undermining its sovereignty and “grossly interfering in China’s internal affairs”.
The Chinese word for crisis is composed of two characters – one for danger and the other for opportunity. The country’s ability to capitalise on the current challenge from the US will strengthen it for years to come.
The submersible incident – complete with the speculative plot line of a US-Russia firefight in the Arctic – did drown, at least for a while, the prime, current geopolitical incandescence: the US economic war on Iran.
If the dollar ceases to be the world’s trade and reserve currency, what of it? It would mean that the Treasury might have to cease printing surplus dollars and the US ability to establish global hegemony on a credit card might well be impeded.