Hegemonic Stick

31
The other day, China announced its claims to include the yuan in the currency basket of special drawing rights (SDR). Behind this is seen more - the desire of the Celestial Empire to make a new key currency out of its national monetary unit, which will press the dollar and the euro in the world economy. At the end of 2015, the IMF will review the basket of currencies, and China expects to “book” a place for the yuan there.

Hegemonic Stick


About the new currency aspirations of the Middle Kingdom told the newspaper "The BRICS Post".

The submission indicates that China is actively trying to convince the International Monetary Fund that the time has come for the yuan to become a new key currency along with the dollar and the euro.

An employee of the Chinese Central Bank said that the country is negotiating with the IMF to include the yuan in the special drawing rights basket (SDR). “We hope that the International Monetary Fund is ready to fully incorporate the achievements in the internationalization of the yuan and include this currency in the SDR basket in the near or foreseeable future,” said Yi Gang, Deputy Governor of the People’s Bank of China.

The publication reminds that by the end of this year, the IMF will once again revise the basket of currencies that fund participants form to use as their reserves. SDR is a tool for exchange of currency reserves in the global economy. Credited by the International Monetary Fund to the accounts of the States Parties to the SDR represent the financial requirement for exchange for foreign currency at any convenient time for the country. Currently, SDRs are calculated in dollars, and the nominal value of borrowing rights is based on the value of a basket of currencies (yen, dollar, pound sterling, and euro).

With regard to the inclusion in the basket of the yuan, the PRC must meet the criteria of an international lender, and also receive the support of the majority among the IMF member countries.

Meanwhile, as early as in 2013, the yuan became the world’s number two currency in the financing of world trade, ahead of the Canadian and Australian dollars. Last year, the yuan entered the top five major world currencies with which payments are made.

Well-known US analyst and entrepreneur Jeff Berwick prophesies dedollarization of the world economy, the coming collapse of the American financial empire and even the “isolation” of the United States (“End Of American Empire: De-Dollarization Will Isolate The US”).

According to the expert, the American Empire comes to an end today. Every day there are new signs of the collapse of the monetary system, in which the United States is still “driving”.

The author believes that both China and Russia have already advanced quite far in forming alternative systems to the dollar, which ultimately will lead to the de-dollarization of two large economies. Russia, for example, can launch a full-fledged alternative to the international payment system SWIFT, which includes 91 credit organization. The new service will allow Russian banks to freely conduct transactions through the Central Bank of Russia. The Russians are taking these actions because of Western sanctions, which may in the future lead to the disconnection of Moscow from SWIFT. If the shutdown does happen, Western companies will suffer serious losses. The alternative Russian system can reduce the negative consequences for Russians caused by Western sanctions. In addition, the new system will reduce the "Western financial domination over Russia," the analyst writes.

Further, the author with irony reminds that the USA is in crisis. The collapse of the empire is not far off. Many citizens do not understand that the government leads them by the nose. It is easy to deceive the population, especially such a “one fourth of which believes that the sun revolves around the earth.”

Today, not only Russia and China, but also some US allies are distancing themselves from the US dollar. The other day, the French Minister of Finance announced that the dollar is not needed for payments in Europe. Moreover, he said that the time had come to operate with the currencies of large developing countries, which accounted for more and more of world trade.

Living in the United States will soon become much more difficult, the analyst predicts. The American economy will have to compete with the whole world. Americans' wages will inevitably fall. She is already falling. Over time, the United States will generally be isolated.

By the way, besides the possible transition to an alternative own payment system, Russia can connect to the Chinese payment infrastructure.

In an interview with Bloomberg TV, the head of VTB Group, Andrei Kostin, said that over time, instead of SWIFT, Russia will be able to use the Chinese payment infrastructure (Chinese International Payment System, CIPS).

"In time, yes, but not now," - quotes his answer TASS.

“The international financial system is not very convenient for us, because it is a threat to our security. We will definitely work closer with our Chinese colleagues to develop alternative systems, ”he said.

As recalled by Tass, China can launch an international payment system that focuses on the yuan, rather than the dollar, in September-October 2015.

As for the Russian equivalent of SWIFT, the project was prepared by the Ministry of Finance of the Russian Federation and the Central Bank in August last year. The Russian system is an analogue of the global interbank financial messaging exchange system SWIFT. The new service was first launched in December 2014.

In late December, the Bank of Russia provided credit organizations with a new service for the transmission of financial messages in SWIFT formats for domestic operations. When concluding a contract, the service allows credit organizations to send messages in SWIFT formats through the Bank of Russia in all regions without restrictions. "The new service has been implemented in order to ensure the uninterrupted and secure transmission of financial messages within the country and is another step towards improving the system of services provided by the Bank of Russia," CNews statement of the Central Bank.

Finally, the American press.

Mark Dubovits and Jonathan Schanzer (Mark Dubowitz and Jonathan Schanzer), who in no way can be called admirers of Russian politics (both see the “aggressor” in Russia), in The Wall Street Journal They write that because of the American measures "the opponents of Washington began to" develop independently. " Not only that, they apply “economic weapon". And it did not start yesterday.

Here are some facts. In 2010, China banned the export of rare earths important to the electronics industry in Japan. Beijing has repeatedly used economic and diplomatic pressure to challenge Taiwan’s international recognition. Soon, China may supplement its naval exercises in the South China Sea with measures of economic coercion aimed at Vietnam, the Philippines and other Asian countries in order to secure property rights to oil and gas reserves in disputed waters. In the meantime, the Russians are working closely with China ... “In short,” the authors write, “America and its allies are vulnerable. Yes, economic interdependence has probably made the opponents of the West cautious, but their behavior may change if China, Russia and Brazil decide to challenge American global economic domination. ”

So far, US dominance in the world means that the rules of the game and sanctions in the financial sector are set by Washington. However, the dominance and the possibility of implementing coercive measures depend on the US dollar exchange rate. At the same time, US Treasury bonds should be a completely safe security for investors. “Fortunately,” publicists note, “87% of international trade is still held in dollars, and 61% of world currency reserves are expressed in dollars.”

“But this will not last forever!” Experts immediately exclaim. A number of countries and institutions are already exploring dollar-free alternatives. Even the International Monetary Fund is working on an alternative global reserve asset (the above mentioned special drawing rights), and this will reduce the share of the dollar in the basket of currencies and increase the share of the yuan. There are other alternatives, such as the UnionPay China Interbank Credit Card Association: with its help, Russia could bypass US sanctions.

They are afraid of analysts and the development of the Russian alternative to SWIFT. Such an alternative, which would be supported not only by Russia, but also accepted by China, will challenge the global financial order. And this "may represent a serious contradiction to American interests."

As we see, let us add, the coming collapse of the dollar system and the infringement of “American interests” became the topic of the day not only for representatives of the alternative press in the US, but also for eminent analysts like Mr. Dubovits, who, by the way, works in the Washington Democracy Foundation (Foundation) for Defense of Democracies).

Undoubtedly, sanctions, as well as a claim to eternal hegemony in the world, will be met (and are met) by active opposition, which will become stronger the more states will be involved in it. Sanctions are a double-edged sword, and a hegemon can get a second end over the top of its head. So much to get that it comes to life only in “isolation.”

Observed and translated by Oleg Chuvakin
- especially for topwar.ru
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    1. +6
      18 March 2015 04: 40
      The PRC must meet the criteria of an international lender, and also receive the support of the majority among the IMF member countries.


      It’s interesting ... how the USA will allow such a competitor to take its place ... it is unlikely that this will happen .... hehe heh, in any case, this will not be peaceful.
      1. +4
        18 March 2015 05: 51
        We have already begun to trade futures on RMB.
        1. +7
          18 March 2015 09: 43
          Give the ruble!
          1. +2
            18 March 2015 11: 50
            It’s interesting ... how the USA will allow such a competitor to take its place ... it is unlikely that this will happen .... hehe heh, in any case, this will not be peaceful.

            And you think why the yankee clung to Ukraine so much - Russia has long been proposing to move away from the dollar as a world currency.
        2. The comment was deleted.
      2. duke
        +4
        18 March 2015 10: 17
        unfortunately, nothing has changed in our Central Bank, as before, the Fed’s exchange shop, hence the ruble collapses, so there’s so much work ...
      3. +3
        18 March 2015 15: 37
        It’s interesting ... how the USA will allow such a competitor to take its place ... it is unlikely that this will happen .... hehe heh, in any case, this will not be peaceful.

        China is the largest holder of US bonds and if it starts to drop them, the United States will go to the bottom. And behind China, Japan (the second holder of Amer's receipts after China) will start doing this, otherwise it will remain with a pile of useless pieces of paper (I exaggerate, of course, because in this area, virtual calculations have long been used). So they and so and so a place in a landfill. The main thing is that when the dollar system goes down, we are not sucked into this whirlpool ...
        1. +2
          18 March 2015 17: 27
          China has already dropped bonds to the level of Japan, and we must think not to stop there ...
    2. +10
      18 March 2015 04: 58
      Yes, I would rather have the hegemon already received this stick, everything goes to this, we must get rid of the green paper that mattresses print, we are used to cutting everyone.
      1. avt
        +3
        18 March 2015 10: 04
        Quote: Lyton
        Yes, I would rather have the hegemon already received this stick, everything goes to this, we must get rid of the green paper that mattresses print, we are used to cutting everyone.

        And here is your first and very specific kick under the smoked backside of a usov prezik, found today on "Made by us" -, Moscow Exchange MOEX + 1,53% on the derivatives market on Tuesday began trading in futures on the Chinese yuan-ruble currency pair, the exchange says, "Of course it's a trifle, but it rings in your pocket" pretty much. good
    3. +11
      18 March 2015 05: 07
      Stick for hegemon
      ambiguous name ... lol
    4. +7
      18 March 2015 05: 22
      Thanks. As always on top".
      Yesterday I found out from friends that our former colleague called from the USA (he lives there for 15 years, professor)
      The professor is 80 years old, but he is forced to work - there is not enough pension for himself and his wife.
    5. +6
      18 March 2015 05: 51
      It is unfortunate that Russia will play the role of an aligned party here. In general, financial wars are not quick. So we'll see ...
      1. +6
        18 March 2015 05: 54
        I agree with you.
        The role of the second violin in Russia is not suitable.
        1. BMW
          +5
          18 March 2015 07: 59
          I agree that does not fit. But we will play the third fiddle as a maximum in the economic war. With today's economic policies, we can not see either the ears or the tail.
          The whole system is built on the structure of the West, by the people of the West, and the key leadership is carried out by the people of the West. Therefore, if GDP does not show will, we will not see success. And he shows will. Please note that the country gently switches to manual control.
          1. +1
            18 March 2015 15: 36
            Damn, all the troubles from the capitalists. When the USSR was stable, balanced. Not too rich, but there were no reasons for a fight under the sun.

            The capitalists, however, fight for every little thing and use, if possible, illegal methods. And the whole principle of capitalism in the struggle for survival.

            When will socialism triumph throughout the world?
            I mean, "manual control" is gud. And legalized liberal theft is theft.
        2. +2
          18 March 2015 08: 47
          Quote: Motherland Russia
          The role of the second violin of Russia does not fit

          But actually, why the second, and why in general the violin? Let it be, let’s say, a balalaika and fuck a duet so that it takes a soul :)
        3. +1
          18 March 2015 16: 25
          The second is easier to run, at the finish we will go ahead. China was behind the USSR, and where is it now, and where are we ??
          In this world you have to be cunning, very cunning.
      2. +2
        18 March 2015 08: 21
        I do not agree, I think there are certain agreements in the BRICS format. Or maybe it's a meaningful strategy and separation of roles. China has a currency, we have an analogue of SWIFT. Why not?
    6. A40263S
      +7
      18 March 2015 06: 04
      In the 80s, the starting conditions and the situation in China and Russia were approximately the same. Thanks to our leader - traitors.
      1. Boos
        +8
        18 March 2015 06: 48
        Quote: A40263S
        In the 80s, the starting conditions and the situation in China and Russia were approximately the same. Thanks to our leader - traitors.

        In our country, they were many times the best, because the Soviet people, led by Stalin, created industrial power without the participation of Western capital. And in China, the development of the economy began with a partnership with the West, and the profit of joint ventures is divided in two. And how many minds moved from the USSR abroad.
    7. +4
      18 March 2015 06: 04
      Mattress, of course, lives beyond its means. But she has already entangled the whole world with her dollar-cobweb that the world will get out of it for a long time. This is so without serious cataclysms, when no one seems to be enough. The role of Russia in this process is unenviable. Russia is the only country in the world that can say mattresses - "there is no need to go here." And she won't go there. Well, how did the EBN not drink the Strategic Missile Forces? Eh, mattress, she was greedy! They poured little.
      Now bite your elbows.
    8. +1
      18 March 2015 06: 24
      and this is a serious bid for financial hegemony by the Yankees
    9. +1
      18 March 2015 06: 25
      China, push the dollar !!!! angry
    10. +1
      18 March 2015 06: 38
      Quote: Lyton
      Yes, I would rather have the hegemon already received this stick, everything goes to this, we must get rid of the green paper that mattresses print, we are used to cutting everyone.

      But today I watched EuroNews - where it was said that the Fed at the end of the summer will probably raise the refinancing interest rate - this will be a headshot to the mattress domination ... the collapse of the markets should begin before that ..
      We are waiting for the little thing, stocking up with popcorn)))
    11. +1
      18 March 2015 08: 29
      Today flashed the news - on the MICEX will begin bidding for the sale and purchase of the renminbi. Maybe it has already begun!?!
      1. BMW
        +2
        18 March 2015 08: 58
        Yuan is good, even very good. But when will the ruble be traded on world markets? Well, at least on the exchanges of the BRICS countries.
    12. +4
      18 March 2015 09: 09
      The main thing is that we live to see this! And there let them squander together, we will observe. India out, not at all obscured. Russian Railways pulled 2 branches under the guise: through the Caucasus to Iran and through the Far East to Korea. Without pomp and ligney advertising.
    13. +2
      18 March 2015 09: 57
      If the dollar collapses, where will the representatives of the fifth column run?
    14. +1
      18 March 2015 09: 58
      All this is glorious, but so far the masters of the United States have successfully suppressed such attempts by organizing global wars. It should not be forgotten that the United States possesses such a real and “super liquid” asset as the most powerful armed forces in the world. In the conditions of disunity of countries trying to throw down a collective challenge to the hegemon, this same hegemon can put pressure on countries one by one very effectively. Only Russia is an exception, the rest are defenseless against "bulat" to one degree or another, no matter how much "gold" they have stored. That is why China is so concerned about the underdevelopment of air defense and the cover of coastal waters, which are an open road to China's own populated and industrialized territory. In this regard, it is China that should be wary of tough pressure in the near future. New attempts by Tianyangmen seem to be around the corner (the Hong Kong test is indicative).
    15. 0
      18 March 2015 12: 52
      Quote: dobrjak
      Give the ruble!

      Or ALTYN!
    16. 0
      18 March 2015 13: 29
      Quote: dobrjak
      Give the ruble!

      gold!
    17. +1
      18 March 2015 15: 27
      health
      here I read about China a lot of interesting things recently. I will not prove anything to anyone.
      and before, I argued that Russia and China together would subjugate all of Eurasia to evil Amerian gigemon. Today I want to ask a question, who is in charge? all at once without hesitation, China will answer! I agree. it follows that Russia will not be the head of the union, or at least an equal partner. therefore, Russia showed good mental abilities and traveled to China and signed the contracts necessary for China, thereby gaining a place next to the new gigemon. it's about how Britain is now next to America ....
      the beginning is good! there will be more further. Now it’s important that Russian analysts can take the Chinese quantity in quality ... and don’t go to work there after all this. Board labels must be used in Russia, wisely used.

    "Right Sector" (banned in Russia), "Ukrainian Insurgent Army" (UPA) (banned in Russia), ISIS (banned in Russia), "Jabhat Fatah al-Sham" formerly "Jabhat al-Nusra" (banned in Russia) , Taliban (banned in Russia), Al-Qaeda (banned in Russia), Anti-Corruption Foundation (banned in Russia), Navalny Headquarters (banned in Russia), Facebook (banned in Russia), Instagram (banned in Russia), Meta (banned in Russia), Misanthropic Division (banned in Russia), Azov (banned in Russia), Muslim Brotherhood (banned in Russia), Aum Shinrikyo (banned in Russia), AUE (banned in Russia), UNA-UNSO (banned in Russia), Mejlis of the Crimean Tatar People (banned in Russia), Legion “Freedom of Russia” (armed formation, recognized as terrorist in the Russian Federation and banned)

    “Non-profit organizations, unregistered public associations or individuals performing the functions of a foreign agent,” as well as media outlets performing the functions of a foreign agent: “Medusa”; "Voice of America"; "Realities"; "Present time"; "Radio Freedom"; Ponomarev; Savitskaya; Markelov; Kamalyagin; Apakhonchich; Makarevich; Dud; Gordon; Zhdanov; Medvedev; Fedorov; "Owl"; "Alliance of Doctors"; "RKK" "Levada Center"; "Memorial"; "Voice"; "Person and law"; "Rain"; "Mediazone"; "Deutsche Welle"; QMS "Caucasian Knot"; "Insider"; "New Newspaper"