/ world today news/ The United States called on its allies to actively oppose China. At the same time, the Celestial Empire has already felt the pressure of Washington, suffered heavy losses due to the intrigues of the Americans. But the main gain in this battle will be for Russia.
The danger of China’s growing economic influence scared even the previous US President Donald Trump. He tried economic methods to slow its growth.
However, judging by the pace of China’s economic recovery that continued before the coronavirus pandemic, it has failed.
Joe Biden’s administration opted for more direct action:
– limiting US investment in AI and advanced semiconductor projects in China;
– provoking the conflict between China and Taiwan.
The United States is now arming Taiwan in the same way it armed Ukraine in previous years, and is also trying to create an alliance aimed at containing China from the countries of the Asia-Pacific region. However, this does not prevent the Biden administration from regularly declaring its desire to normalize relations with Beijing.
It’s battle time!
One of America’s biggest business publications, The Wall Street Journal, called on the US to “join its allies to resist China’s economic coercion.”
In fact, the newspaper is calling for an economic war on the Chinese because of their growing economic power and Beijing’s resulting political “arbitrary”.
Against this background, in the first half of this year, imports of goods from China to the US decreased by 25% compared to the same period last year:
– in 2019, the American spent every fourth dollar on purchases of Chinese goods;
– in the first half of 2023, only every sixth dollar was spent on Chinese goods (according to The Washington Post newspaper).
The war is already here
China’s share of US imports fell to its lowest level in more than 20 years when the Celestial Empire became a member of the World Trade Organization (WTO). Five years earlier, Beijing’s share was about 22% of US imports, and now it is about 13%.
“The decrease in the supply of goods from China is observed in all segments: the import of clothing and toys decreased by a third, of medicines – by almost half, and of electronics – by 15%,” notes Politico.
The US puts pressure on China by reducing purchases of goods. At the same time, Japan – a key ally of Washington in Asia at the moment – is also reducing imports from China.
“At the same time, the supply of goods to the United States from Vietnam and Thailand, with which the Americans are trying to replace China, increased sharply. And Mexico and Canada became Washington’s largest trading partners,” emphasizes The Washington Post.
Apple is moving to India
Also, the Biden administration is strongly recommending its corporations to move their production from China to more complex Asian countries: India and Vietnam. And it gets results.
By 2027, Apple plans to manufacture half of all its iPhone devices in India. Most components will still be manufactured in China, but assembly will take place in the neighboring country.
And China?
China’s economy is largely dependent on the export of goods to world markets, as well as investment in industry by the largest foreign corporations.
The actions of the Americans and their allies will have negative consequences for Beijing. So far, China has managed to cope with them, but the first signs of an economic slowdown are already there.
Also, last year, in line with the “zero tolerance for the coronavirus” policy, a number of restrictions were imposed that hindered the operation of factories and shops in China.
So US sanctions are having certain results. But the rapid deterioration of the economic situation in European countries, which are forced to reduce imports, has no less influence.
Who will win?
Among the main winners could be Russia and the BRICS alliance of developing countries. This union is currently preparing for expansion. Recently, the Special Ambassador of the Ministry of Foreign Affairs of South Africa, Anil Suklal, stated:
“Over 40 countries have announced their desire to join the association of developing countries. Official requests for membership in the new union have already been submitted by 23 of them.”
The admission of 23 new members to the bloc will mean that in the next two years about 40% of the world’s GDP will be accounted for by the BRICS. This is at least a third more than the shares of the G7 countries.
Break free from the US
About 40% of the planet’s population already lives in the BRICS countries. And by expansion, the new alliance could include up to half of the Earth’s population.
This is a colossal market that, with the development of the economy of developing countries and the increase in the welfare of their citizens, will allow the BRICS and the Global South in the near future to completely free themselves from the influence of the USA and the collective West.
In this regard, the actions of Washington and its allies against Russia and China help to speed up the transformation of BRICS from a formal association of the largest developing countries into a full-fledged union that opposes the influence of the collective West.
What is the use of this?
For Russia, the escalating relationship between the US and China actually has a threefold benefit.
First, as Washington turns its attention to the war with Beijing, the collective West will have fewer and fewer resources left to support Ukraine, helping to end the war in less time and with fewer casualties.
Secondly, under these conditions, China will be forced to cooperate even more closely with Russia – which for us, no doubt, is profitable.
Third, the examples of Russia and China will stimulate developing countries to cooperate more and more actively with each other, both within the BRICS and outside it. And this will help the growth of international trade and the economy of our country through more active entry into the markets of the countries of the Global South.
Translation: SM
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