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CHINA'S LIABILITY?

The question isn't if that will change global affairs, it's to what extent.
China can't fill that gap, neither can Russia. They have nothing in common with those they wish to control.
I don't agree that the US is fundamentally 'European' in outlook,
Then what is it? It certainly not Uniquely American. English spoken in a rather German version of the language. The fact that they inherrently detest the British and hanker after connections to Ireland Scotland and France would suggest basically European.
As demonstrated by its actions in the World Wars which resulted in the death of Empire.
I'd have the temerity to suggest, blindly following French Policies- because we couldn't be excluded were in part to blame. But as you say that's the outcome
 
China can't fill that gap, neither can Russia. They have nothing in common with those they wish to control.
What did the Spanish, French, Portuguese, British and now Americans have in common with those they wish to control? Not a common language, certainly. They don't have a common consensus on the extent of state activity amongst themselves, let alone with everyone else. Democracy? Not on your Nelly.

What they do have - and what's all that matters - us that they know how to deal with disparate governments without presuming to have a single cure-all magic solution for everybody's economic and political problems.
 
What did the Spanish, French, Portuguese, British and now Americans have in common with those they wish to control? Not a common language, certainly. They don't have a common consensus on the extent of state activity amongst themselves, let alone with everyone else. Democracy? Not on your Nelly.

What they do have - and what's all that matters - us that they know how to deal with disparate governments without presuming to have a single cure-all magic solution for everybody's economic and political problems.
I can’t answer that specifically. My point was that America has representatives of all those languages and are therefore a European mentality. China and Russia cannot say that despite their multiple diasporas. But as to your last point if you mean pragmatism on the one hand against dogma on the other the former will win
 
I don't recall that doing the US's prospects any harm. They had the advantage of controlling only one, the world's reserve currency of choice.

The reason the world chose the USD was that, for the most part, the US was the one making the rules of international trade and finance.
Was it not also because it was the most stable of most main currencies ?
 
The reason the world chose the USD was that, for the most part, the US was the one making the rules of international trade and finance.

The petro-dollar is why it became so firmly entrenched as the reserve currency of first choice. Precisely why the US is so focused on the middle east, they, literally, cannot afford for mass adoption of oil settlements in any other currency.
 
From 1992 until recently I took sea containers from about six locations in China. Chinese Traders always insisted on US Dollars, this was a nuisance, because USD had to be purchased from my Bank, I lost about 4 cents per dollar, even worse as the pound went down. I was told by the larger companies that it was a Chinese Government rule to take dollars. I still deal in China but I will only use Pounds which has worked fine for the past few years.
 
The irony. You should think before you post.

There are choices to deal outside of USD.
The US does all that it can to discourage settlement outside of USD
The overwhelming amount of oil settlements are still conducted in USD

Settlements in Yuan have increased to 10.5% of the global volume at the start of June 2020 compared to 6.2 per cent in the second quarter of 2018. It is making the USA very, very,nervous.
 
The irony. You should think before you post.

There are choices to deal outside of USD.
The US does all that it can to discourage settlement outside of USD
The overwhelming amount of oil settlements are still conducted in USD

Settlements in Yuan have increased to 10.5% of the global volume at the start of June 2020 compared to 6.2 per cent in the second quarter of 2018. It is making the USA very, very,nervous.
The big changeover started some 8 to 10 years ago, Either China was buying natural gas from Russia or vice versa, it was a pipeline job, with further agreement between the two to buy each others energy products. After very long negotiation Russia got its way, after insisting that on deals between both countries that it should be done in their own respective currencies.
 
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