Faith without works is dead. Not saying China needs to start sinking ships, but unless they do something beyond strongly worded letters, it is, actually, “accepting” what the US is doing.
I’d really like to see China put sanctions on the US over this.
Can they do it? Without control of the reserve currency?
I don’t see what the reserve currency has to do with this. China effectively has a monopoly on production of many essential goods that the US needs. They can just choose to stop exporting them.
What is with the obsession over the reserve currency lately? I had a lib friend randomly spouting off about how China could never hold the reserve currency for… reasons? In response to me saying I might need to learn mandarin to flee eventually as well (I’m joking, I know I could probably never make it happen).
I don’t really get it either, seems like another bit of mythology about American greatness people memorized and are now regurgitating uncritically.
Which is, of course, quite silly. I’m guessing that a counter-hegemonic financial system has already been developed and is very much an active part of the strategy of surviving as a socialist project while global capitalism exists. I just haven’t tried to understand that fully yet. I appreciate any insight you or anyone else might have.
Yeah, the pivotal point was Russia getting kicked out of SWIFT. That forced a creation of an alternate financial system out of necessity, and over past three years it’s expanded significantly within BRICS. The reality is that you don’t need to have a reserve currency, you can just do direct currency swaps. But more importantly, China is basically the world’s factory, and has a massive trade surplus with the rest of the world. Which means holding yuan is useful for other countries, since they can always exchange it for something tangible they need.
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It would be nice if China actually did something materially meaningful here.
im glad china is taking such decisive actions
If they don’t sink naval fleet off the coast, then it is either acceptable, or they’ve received some other unrelated acceptable concessions for not sinking the fleet.
There are other options. For example, China could easily cut off the US from critical supplies by putting on sanctions.
You think escalating against Trump is a good idea?
Sinking a navy is not an escalation for an illegal invasion. You can order the US to leave before doing it. Unacceptable has a meaning other than threatening to complain longer. Sinking a fleet is more appropriate and less of an escalation than blockading Taiwan from US trade.
