His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.

Trump is oblivious to the fact that BRICS is now a bigger economy than the G7. The US is no longer an essential part of the global economy.

Increasing trade outside of the dollar is the only way countries can protect themselves from economic coercion by the US. In particular, China can obviously see that the US will go after them the same way they did with Russia. So, it would be suicide to agree to tie their global trade to the dollar.

Meanwhile, China also happens to be a bigger trade partner than the US for most of the world. So if it comes to choosing between the US and China, it’s not really much of a choice. Especially given that China exports things people actually need, while the US barely has any manufacturing industry left accounting for less than 15% of the overall economy. The US is a big market, but it’s not essential the way China is.

  • ☆ Yσɠƚԋσʂ ☆@lemmygrad.mlOPEnglish
    11·
    4 days ago

    We can’t underestimate sheer ignorance and stupidity on the part of the US. Plenty of people warned that the trade war with Russia would have disastrous consequences for the west, but that didn’t stop the US from pulling the trigger. I don’t think anything has been learned over the past three years.

    • freagle@lemmygrad.mlEnglish
      9·
      4 days ago

      Inshallah.

      You know me, I am always looking for the angle where they win so we can anticipate it. I am VERY worried about this upcoming NATO deployment to Ukraine. It’s an incredibly difficult thing for Russia to recover from if it happens.

      I am worried about what angle the USA can wrangle economic dominance in the next year