I predicted this a while back.
China aren’t interested in the value of their reserves so much as the new geopolitical weapon they’ve bought.
And they fully intend to use it as a weapon.
They already use the yuan as a weapon, why not the dollar, it’s only paper and they have the biggest resource of all, people.
Most people thought they were holding it in reserve in case they have to invade Taiwan. Keep the Americans out of that one by threatening to collapse the US financial system. Or so the theory went, anyway…
Maybe with all the revelations this week about just how bust the big US banks really are, the Chinese think they can collapse the dollar, end petrodollars, get the Khaleeji established, and begin using Africa as a resource base much sooner than they had originally intended, because the US is going down the toilet anyway and their shiny weapon could well be obsolete in 6 months.
Smoke 'em if you got 'em time.
Could you speculate as to their ultimate aim in doing so? I mean apart from the obvious ie replacing the US as the worlds leading economic power. Do you think that there is any other political agenda at work or is that it?
The Chinese don’t want to be a Superpower in the British/US/Russian meaning of the word.
They just want what they see as Chinese territory restored (basically Taiwan at this stage) and full access to markets to make money. They have very long memories and well remember things like Portugal’s stranglehold of the silk/silver trade with Japan in the 16thC, or the Opium Wars with the British. Those were humiliations for (in their eyes) the oldest civilisation in the world.
They have the complete opposite opinion to the Western Imperialists on wars. The West sees war as a way of making money. The Chinese see it as disruptive and needlessly wasteful. tbh a global economic order under Chinese direction would be a much more placid sedate affair.
So, a small bit of territorialism, a large amount of national pride, and a view of the US as disruptive children who have become bad for business (Chinese-style)
maybe your right, maybe your wrong but I really dont see any evidence for this!!
If the way they treat their own people are anything to go on then…
That’s the way they treat their own people. The Chinese really couldn’t care less how gweilo organise their own affairs outside of the Middle Kingdom, just as long as they get access to the raw resources and the markets to sell stuff…
You really won’t see China running round trying to convert the whole world to their system, like the Brits, Americans and Russians all did during their periods of Superpower status. They’ll only intervene if a regime becomes destabilising and bad for business…and they won’t be intervening militarily as a rule. They’ll do exactly what they are doing to the US right now.
IMNSHO, YMMV, etc
They just fired a warning shot at the US Navy near Taiwan.
Note a the pattern of US military conitnually getting caught out over the last 5-6 years… they’ve spread themselves much too wide globally.
Hardly a peep out of western media, we are asleep.
I can see it now, Chinese astronauts placing the Chinese flag beside the original Apollo moon lander! Now there is an image that will shake this earthly paradise.