yogthos

Your source is about US media complaining that China isn't gonna pay their debt. In fact, if you actually read it, then you'll realize that it supports my point that US isn't actually in a position to do anything about it. That's literally what it's whinging about. China's financial position in the world comes from being the biggest trading partner for majority of the countries and producing most of the stuff people around the world consume. China doesn't need to protect assets on another continent because China is buying up commodities like gold that are kept in China https://oilprice.com/Metals/Gold/Chinas-Gold-Buying-Spree-Continues-For-Seventh-Consecutive-Month.html

In fact, US using the financial system it built is a weapons is precisely what's driving countries away from it right now. The whole system hinged on the idea that it was built on top of strong legal protections. Once US decided to steal Russian foreign reserves that demonstrated that it's a completely lawless system. The only legal paths towards seizing foreign reserves is a UN resolution or a declaration of war.

Meanwhile, and foreign borrowers are issuing a record amount of yuan debt, helping internationalize China's currency https://archive.is/A4kcO

And turns out you don't have to be an American to believe nonsense after all.

The class that holds power in society also controls the government. Under capitalism, the government will always represent the interests of big capitalists first and foremost.

Exactly, US has been able to finance its debt at the expense of the rest of the world up to now, and those days are quickly coming to an end.

Imagine peddling QE while claiming other people have zero clue how money works. 😃

You should learn a bit about how debt works yourself. US has been able to effectively create unlimited debt by virtue of the dollar being the global reserve and being needed for countries to buy essential things like oil that modern economies need to function. When US prints money, it gets absorbed by other countries. That's the magic trick US has been using. Now, countries are starting to dedollaraize and demand for US currency is dropping. Meanwhile, you don't need dollars to buy things like oil now either. And that's where the problem for US comes in. Actual economists, such as Micheal Hudson, have explained this dynamic in great detail. One example being here https://valdaiclub.com/a/valdai-papers/valdai-papers-116/

Maybe try educate yourself a bit on the subject before making personal attacks on people out of sheer ignorance.

LMFAO the least propagandized American has logged on. Go read up on how US war games against China turn out.

Also, it's absolutely adorable that you think that China hasn't protected their assets from US after seeing US seize Russian assets.

The question you should be asking yourself is what US is going to do when China cuts you off from all the stuff produced in China. Not like US has an industrial base of its own like a real country. 😂

Your only point appears to be that you don't seem to understand why this is significant. The fact that there is a lively discussion happening with people explaining the significance to you shows that the submission quality is just fine.

If you don't understand how US national debt going up by a trillion in a month is not world news, don't really know what else to tell you. I just love how you're sealioning here trying to act like you have a perfectly valid point to make.

Because this is a world news community as opposed to historical literacy community.

Thanks for linking a concrete example of China not giving a fuck about what US thinks. What's US gonna do about it, whinge and cry like the article you linked is doing? 😂😂😂

You keep on laughing while you can there. Soon even the most propagandized elements of society are going to be forced to engage with reality. Then the rest of us will laugh. 😂

The only silly thing here is claiming that the huge amount of debt increase is not indicative of anything. I recommend reading up on what this has meant historically to understand what to expect going forward.