China and Russia are already working on a SWIFT replacement. All they need to do is not try and use their banks as weapons -- which they don't need to for obvious reasons -- and they're immediately in-line to replace US-centric banking.
"Debanking" in any form is a short-term play with long-term consequences. Were I running a government, I'd be wondering when the US is going to decide that we need a more "democratic" regime, and taking steps to enhance my country's fiscal autonomy as much as possible.
Belt-and-road is going strong in both Africa and South America. Nobody really trusts China as a partner at this time, but the Party[1] in the US has done a great job of convincing the world that Washington is less reliable than Beijing.
[1] The GOP and the Democrats function as a single-party state. Obama beat the war drums just as hard as Bush.
For sure, sanctions are a double-edged source. It sends a signal that they will be on the list. And, that is not a problem if the US was an impartial candidate, but it isn't. It does everything for its greed, not for humanitarian reasons. China and Muslims were no problem to them as long as US and West could exploit them. Currently, India is developing and I have aforethought that the US will surely take "swift" action like they are doing with China.
And let's not get started on BRI projects. People always forget they should look at the reasons why Africa is still poor today. They should check for IRS policy and its impact on politics. US and West have no interest in development in Africa. But, when China goes to Africa makes good roads, the US starts to have a problem. If the US is so altruistic, why don't they go to Africa and develop their continent? I think the US just wants them to be poor so, it can enjoy its hegemony forever.
> It does everything for its greed, not for humanitarian reasons. China and Muslims were no problem to them as long as US and West could exploit them.
I mean, yeah, that's like saying that water is wet. Every "humanitarian reasons" organization is a smoke screen for some kind of power play.
> I think the US just wants them to be poor so, it can enjoy its hegemony forever.
Nah, I think this is more stupidity than malice. The regime and its staff, in spite of all the travel and internships and all the rest, really are absolutely clueless about the way that the rest of the planet lives.
China and Russia are already working on a SWIFT replacement. All they need to do is not try and use their banks as weapons -- which they don't need to for obvious reasons -- and they're immediately in-line to replace US-centric banking.
"Debanking" in any form is a short-term play with long-term consequences. Were I running a government, I'd be wondering when the US is going to decide that we need a more "democratic" regime, and taking steps to enhance my country's fiscal autonomy as much as possible.
Belt-and-road is going strong in both Africa and South America. Nobody really trusts China as a partner at this time, but the Party[1] in the US has done a great job of convincing the world that Washington is less reliable than Beijing.
[1] The GOP and the Democrats function as a single-party state. Obama beat the war drums just as hard as Bush.