yogthos

looks that way

They are the junior partner, and when push comes to shove they will do what US tells them.

Indeed, I'm not too thrilled to be living through a second societal collapse in my lifetime.

😭

It's a crazy time to be alive to be sure as we're watching the existing world order creak and splinter. Western capitalism is buckling under the weight of its own contradictions. Climate chaos, mass extinction, wars of desperation, the crises pile up as the system enters terminal decline. Yet within the rubble, there lies a possibility for a different world as well.

The Global South is rewriting the rules of the game and shaking off western exploitation. Look at China's green tech blitz, vaulting past the West in solar, EVs, and nuclear power. Or Vietnam, massively slashing poverty in the past three decades while building a socialist economy that leaves IMF orthodoxy in the dust. These are blueprints for the rest of the world to follow. The axis of power is tilting away from extraction and plunder and toward socialism. The failures of neoliberalism are discrediting western model even in the west at this point. While reactionary backlash will escalate as the west becomes increasingly desperate, there is a potential of a better world on the horizon, and that gives me hope for the future.

China has a much more sophisticated approach towards this. China made a strategic shift in how it manages dollar and euro reserves. Rather than outright discarding these currencies, China is actively relocating them from Western financial institutions, primarily American and European banks, to establish an independent financial ecosystem. This new system is being constructed using a combination of gold reserves, RMB swap lines, and even digital assets. This system is completely outside the traditional Western-dominated financial framework. China realizes the vulnerability of its assets within Western banks, particularly in light of events like the sanctions imposed on Russia. Consequently, China is channeling its funds into its own banking system, enabling the creation of loans and bolstering its financial autonomy. This is a good summary of the whole thing https://www.youtube.com/watch?v=DnzuR-kog-w

The US now constitutes a tiny portion of Chinese overall economy. I saw a video just the other day where a Chinese prof was saying that trade war with the US isn't even seen as one of the top ten most important things for China's economy at this point. Also, not sure where you get the notion that Russia is not doing proper reindustrialization. The industry in Russia is booming right now at a pace not seen since USSR days.

What they're doing is a quiet transition that won't provoke a decisive response from the west. This is the right approach, and it also ensures that things develop organically and countries get on board without feeling coerced. Any new financial system can only work if countries don't feel like they're being forced into it. The trade war Trump started will help convince countries that they need to move off the dollar without China or Russia having to do anything drastic.

Hating Russia is really the sole requirement for the job.

I wasn't curious enough to look deeper.

Dedollarization is a process, the BRICS are being sensible by not rushing it.

the world adapts :)

US likes to impose arbitrary sanctions on its adversaries. Basically the US government decided that people from a particular country aren't allowed to collaborate with people using US based platforms like GitHub.

OrganicMaps GitHub repo was blocked due to contributor being geolocated in a US-sanctioned place https://mastodon.social/@organicmaps/114155428924741370