June 30, 2022

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China’s Economy..American Politics – Al-Ittihad Daily


China’s economy..American politics

In the context of the Cold War between the United States and China, there is a strategic plan to tighten the screws on China’s pulmonary and economic arteries.
China screams economy, America shouts politics, here is the anchor, as they say: “This is the division between you and me.” One of the economic means by which China raises its voice against the United States is its currency, the yuan. Accordingly, China, along with its Asian neighbors, is seeking to enhance the use of local currencies in regional trade and investment and provide a greater financial security web. Within the region against external shocks.
Bilateral currency exchanges help promote economic integration, especially among the member countries of the Association of Southeast Asian Nations (ASEAN).

These developments are likely to reduce the use of the US dollar and the impact of US monetary policy on Asia. Nearly four decades ago, China decided to jump out of its Great Wall to share elements of greatness with the world.

As planned for China’s centenary celebrations in 2049, the “Silk Road” or Belt and Road initiative is a new means of cooperation between Beijing and the rest of the world on all continents.
Some estimates list the Belt and Road initiative as one of the largest infrastructure projects and investments in history, covering more than 68 countries, including 65% of the world’s population and 40% of global GDP as of 2017.
China’s “throat” country is the United States, which has responded with a counter-initiative called the “Free and Open Indo-Pacific Strategy”, which has three pillars: security, economy and administration. In early June 2019, the general definitions of “free” and “openness” were redefined in four stated principles – respect for sovereignty and freedom, peaceful settlement of disputes, free, fair and mutual trade, and compliance with international rules and standards. .
Ever since China announced its plans for 2030 to become the world’s number one economic power, it has surpassed the United States and fired Cold War arrows at it from all directions.
China is an economic expansion, not seeking political influence like the United States and the West.
Through its experience of growth and its path to economic prosperity, China has created a Silk Road for itself.
China has succeeded in buying two-thirds of the world’s dollars, and has shifted the trade balance with the United States in favor of the United States at a rate of fifty billion dollars against half a trillion dollars.
Today’s China is not yesterday’s China, it has become a major economic power that wants to compete and compete with other powers in its current state of excellence and efficiency.
The more steps China takes towards economic growth, the greater the US pressure, and the more conflict and contentious files will appear between Beijing and Washington.

* Emirati writer

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