The publication reported how the favorite instrument of the USA was leveled.
The authors of the American edition of Foreign Affairs, after analyzing the results of US sanctions against Russia and China, stated that the latter had won over the favorite tool of the United States.
According to Agatha Demare, Director of Global forecasting at the Economist Intelligence Unit international research Center in London, the US has lost its favorite economic weapon in the economic war, and the era of sanctions is coming to an end.
She called the reason “permissiveness”, which was demonstrated by the US authorities in using these “punitive measures ”. According to Demare, she “caused the resistance of the world ”.
To prove her point of view, she cited three convincing responses from Beijing and Moscow to Washington’s sanctions.
First of all, they included the creation of bilateral currency swaps. So China and Russia were able not to use the US dollar in the calculations.
The second was the appearance of non-Western payment systems. China has its own alternative version of SWIFT CIPS, which is already used by over 1,300 banks from more than a hundred countries. Both Russia and China will have a worthy response to sanctions in this area, the analyst believes.
The third measure Demare called the introduction of a digital currency, which is protected from sanctions. She explained that Washington cannot restrict the use of virtual means of payment, which are issued by credit institutions of other countries.
China has become a leader in this field, the digital yuan is already used by over 300 million residents of the country in twenty cities, including the megacities of Beijing, Shanghai and Shenzhen.
Demare, analyzing what happened, points out that the fact that the United States followed only its own interests in the measures, using restrictive measures as a weapon, caused a protest from the world community, and the US dollar was deleted from the monetary exchange of the two countries.
Earlier, Topnews wrote that Russian President Vladimir Putin told a joke about Western sanctions against Russia.
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