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submitted 2 years ago* (last edited 2 years ago) by yogthos@lemmygrad.ml to c/worldnews@lemmygrad.ml

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[-] GrainEater@lemmygrad.ml 1 points 2 years ago

I wonder why Chinese capitalists would be... ~hua~wary of the West

please clap

[-] yogthos@lemmygrad.ml 1 points 2 years ago

Ha, on a serious note though, decoupling from the west as quickly as possible is the only rational option for China. Even if the west wasn't trying to wage an economic war, it's pretty clear that there's a repeat of the 2008 crisis looming. Being dependent on the western economic system is a huge liability.

[-] GrainEater@lemmygrad.ml 1 points 2 years ago

of course, Amerika's treatment of Chinese companies is only one of many reasons to dedollarize

[-] yogthos@lemmygrad.ml 1 points 2 years ago* (last edited 2 years ago)

It's kind of funny how history rhymes. As I recall, USSR was sanctioned by the west when the great depression hit, and its economy was largely unaffected by the crash because of that, which gave it a lot of legitimacy at the time.

Seems like now we're looking at a repeat of that happening, except now there's a whole BRICS economy that's going its own way. Once the west crashes, that's basically going to discredit western economic system for the rest of the world.

[-] GrainEater@lemmygrad.ml 1 points 2 years ago

yeah, they've sanctioned so many countries with such an important role in production that it's backfiring hard

(side note: either there's a bug afoot or you got those upvotes really quickly)

[-] redtea@lemmygrad.ml 1 points 2 years ago

Friendly-fire ratio'd

[-] QueerCommie@lemmygrad.ml 1 points 2 years ago

Maybe Yogthos is just really popular/s

[-] GrainEater@lemmygrad.ml 1 points 2 years ago

Yogthos is the spectre of gommusim haunting lemmy.ml

[-] HiddenLayer5@lemmygrad.ml 1 points 2 years ago

Hey, everybody wins! The West has been calling for this for ages right? And China definitely doesn't want their funds caught up in the West.

[-] yogthos@lemmygrad.ml 1 points 2 years ago

it's turning into one of those, we want to decouple... oh no, not like that situations

[-] freagle@lemmygrad.ml 1 points 2 years ago

I wonder...

How much total value (liquid, real estate, financial instruments, commodities) that are part of the US economy are owned by Chinese nationals? What would happen if they started just selling it all and selling the currency to American holders of foreign currencies?

What if they did this as the BRICS currency comes online?

What if they sold all their US commerical real estate holdings?

I get the feeling the USA is about to experience a very rapid decline in the run up to 2030.

We're already seeing coastal housing markets about to collapse as insurers write them off entirely.

Can you imagine if peak oil gets validated at the same time?

This is real bad for the USA. Let's hope the solution isn't Kissingerian.

[-] yogthos@lemmygrad.ml 1 points 2 years ago

Yeah, this looks like a start of a disaster for the US. As I recall, China ended up making huge investments into US after buying up a bunch of US bonds in 2008 to bail US out. If all that investment is reversed that's going to hit hard. It's also not clear who else would even be in a position to make a similar kind of a bailout this time around.

[-] freagle@lemmygrad.ml 1 points 2 years ago

How funny would it be if the BRICS bank decided to make a bailout offer in exchange for disarmament

[-] redtea@lemmygrad.ml 1 points 2 years ago

:chef's kiss:

[-] ImOnADiet@lemmygrad.ml 1 points 2 years ago

There is 0 shot that will ever happen, if our government ever considered accepting that deal the MIC would pull off a coup in record time

[-] AlbigensianGhoul@lemmygrad.ml 1 points 2 years ago* (last edited 2 years ago)

What if they did this as the BRICS currency comes online?

I wasn't aware of BRICS currency plan and that sounds huge. Anybody have anything I could read in more depth on that?

[-] QueerCommie@lemmygrad.ml 1 points 2 years ago

I don’t have any specific articles but you could look at geopolitical economy report.

[-] redtea@lemmygrad.ml 1 points 2 years ago

Let’s hope the solution isn’t Kissingerian.

I saw that post about Algeria offering $1.5bn to underpin the BRICS bank and couldn't help but think what they could've done with Qaddafi's support, too. Murdered just before his dream would come true? Or will the US put a stop to this latest effort?

I don't see how it's possible, this time. It's easy to isolate e.g. Nkrumah or Qaddafi, but when 30%+ of global GDP has a public end united plan to de-dollarise…

I think we're not far off finding out just how delusional are the US imperialists. It's now or never for them. Are they willing to gamble all life on earth for a chance at a few more decades of capitalism? Or will they accept that this is the start of their undoing and there's no coming back?

[-] freagle@lemmygrad.ml 1 points 2 years ago

What does acceptance even look like?

[-] redtea@lemmygrad.ml 1 points 2 years ago

Maybe in a negative sense? Like not nuking anywhere. I can't see acceptance being much more than that. I'm hoping that with the time and space that BRICS provides by dedollarising, the western left gets it's act together and prevents the imperialists from causing too much damage. Got to remain optimistic, however dire it looks.

[-] freagle@lemmygrad.ml 1 points 2 years ago

Last time I tried to game it out I got denigrated for fantasizing.

[-] redtea@lemmygrad.ml 1 points 2 years ago

It needs thinking about. To be able to respond to whatever is coming next. There are just so many variables so a big part of it will always sound like a fantasy! The best we can hope for is working out a range of scenarios and hoping for the best.

At this rate, climate change might do for the western world before a revolution. The temperature on land and in the ocean, fires everywhere. Ice caps are melting so fast this year that the last time we saw this little ice was over 7 million years ago, according to Xitter (I believe the X is pronounced in the Chinese way, like the X in Xi).

Whatever the imperialists have up their sleeves better not involve logistics because their chances of pulling it off are dwindling by the day. Not that this is anything to be pleased about in general.

[-] PolandIsAStateOfMind@lemmygrad.ml 0 points 2 years ago

Murdered just before his dream would come true?

It's pretty revolting that Gaddafi is dead and Libya lies in ruins and Sauds are now doing exactly what he died for.

[-] Addfwyn@lemmygrad.ml 0 points 2 years ago

Are they willing to gamble all life on earth for a chance at a few more decades of capitalism?

Depressing but I think the answer to this is yes, absolutely.

this post was submitted on 24 Jul 2023
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