It becomes funnier and funnier to me as the US continually goes SANCTIONS! while completely forgetting that there are many other countries the sanctioned countries can trade with. It disrupts things for a bit, they find new trade partners, and the world moves on. The only way the US could sanction Russia would be by forming a blockade but even then good luck, you'd have to blockade China too.
While I don't think we have quite reached that point yet, I do know that the vast majority of all world sanctions are imposed by the United States. It is close to 100% if you include sanctions imposed at the request of the United States.
Currently large swaths of Asia and Africa and a smattering in the Americas. A lot of those are against individuals rather than the country broadly, but it often has the same effect.
Right, and this is why dedollarization is taking off like wildfire. Nobody wants to use US financial system, but until recently it's been the only game in town. Now that people see it's possible to bypass it, there's a lot of momentum to create an alternative trading system. I imagine the fact that members can't sanction one another is what makes BRICS in particular so appealing.
Thing is that this only works when you sanction a few isolated countries. Once you reach a critical mass, then it's just an alternate global economy. And that's precisely what we're seeing now happening with BRICS.
I think so as well, the problem was that US saw USSR as an ideological threat from the very start so there was no possibility of this sort of cooperation. The main reason US decided to normalize relations with China was to try and prevent China from having good relations with the Soviets. So, perhaps this is the only way things could've worked out.
In the end, US made a huge miscalculation in underestimating China, and completely missed China outpacing them in every regard while being drunk on having defeated USSR which they saw as the only serious threat to their global hegemony.
I would even go as far as to say this was the only major remaining tech advantage the west had. China's been outpacing the west in most areas of science and technology for a few years now. Chips were the one big piece of the puzzle and now China can make their own.
It becomes funnier and funnier to me as the US continually goes SANCTIONS! while completely forgetting that there are many other countries the sanctioned countries can trade with. It disrupts things for a bit, they find new trade partners, and the world moves on. The only way the US could sanction Russia would be by forming a blockade but even then good luck, you'd have to blockade China too.
I think we may be at a point where there are more countries under US sanctions than not. 😂
While I don't think we have quite reached that point yet, I do know that the vast majority of all world sanctions are imposed by the United States. It is close to 100% if you include sanctions imposed at the request of the United States.
Currently large swaths of Asia and Africa and a smattering in the Americas. A lot of those are against individuals rather than the country broadly, but it often has the same effect.
Right, and this is why dedollarization is taking off like wildfire. Nobody wants to use US financial system, but until recently it's been the only game in town. Now that people see it's possible to bypass it, there's a lot of momentum to create an alternative trading system. I imagine the fact that members can't sanction one another is what makes BRICS in particular so appealing.
It’s just what they have to do in this version of Cold War 2.0. Sanctions are an inevitable move and send more of a message than being effective.
Thing is that this only works when you sanction a few isolated countries. Once you reach a critical mass, then it's just an alternate global economy. And that's precisely what we're seeing now happening with BRICS.
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I think so as well, the problem was that US saw USSR as an ideological threat from the very start so there was no possibility of this sort of cooperation. The main reason US decided to normalize relations with China was to try and prevent China from having good relations with the Soviets. So, perhaps this is the only way things could've worked out.
In the end, US made a huge miscalculation in underestimating China, and completely missed China outpacing them in every regard while being drunk on having defeated USSR which they saw as the only serious threat to their global hegemony.
in the case of China it forced them to make their own microchips which removes one major advantage the US held over them
I would even go as far as to say this was the only major remaining tech advantage the west had. China's been outpacing the west in most areas of science and technology for a few years now. Chips were the one big piece of the puzzle and now China can make their own.
US leaders are too old to think of something new fortunely.
Can't say for others, but the narrative regarding Russia (from Russian libs) was usually this:
all those countries (USA, EU) can get things they get from us elsewhere no problem
other countries can't offer us as much as we get from USA/EU
Russia doesn't produce much useful anyway, just oil and gas