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. 😂

[–] ruck_feddit@lemmy.ml 0 points 1 year ago* (last edited 1 year ago) (1 children)

I'll wait while you source your info, since I sourced mine. You can respond to: fighting the US, China's financial position in the world and their international debt, or just how you believe China can protect assets on another continent. Go ahead.

It's nice you think I'm American. Throw me some more emojis to try to make your points really stick.

[–] yogthos@lemmy.ml -1 points 1 year ago* (last edited 1 year ago) (1 children)

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.

[–] ruck_feddit@lemmy.ml 0 points 1 year ago (1 children)

And as that currency falls to the dollar because the issuer does not and cannot pay it's debts? And as the nations of the world depend on western weapons and must pay for them in dollars? You've actually made my points really clearly without making a point yourself.

Proud of you!

[–] yogthos@lemmy.ml -1 points 1 year ago

That's not how anything works. China's currency isn't tied to the dollar, and it's controlled internally. Incidentally, this is one of the things US incessantly moans about. US has absolutely no leverage to force China to pay US, meanwhile as the article you yourself linked shows, US keeps paying China. Thanks for making it clear that you didn't actually read it.