This is a fantastic analysis and I’d like to add: this is why China will never wield its economic power as a weapon. We often ask why China doesn’t just sanction the US or any country that is overtly hostile to it, and your 2nd paragraph encompasses why they don’t.
Dedollarization is the only way to stop US imperialism. The US has suffered nothing but military defeats in every war it has participated in as a belligerent. Despite this, US imperialism hasn’t been dealt crushing blows from lost wars. Those blows come from shifting and building trade routes and partners, which is what China is keen on.
Anything short of dedollarization is not going to end US hegemony. Every military victory against the US must be towards the ultimate goal of dedollarization. Otherwise it’s just putting off the inevitable us friendly regime change (see Syria).
China knows this, they know using their economic power as a weapon would jeopardize their reputation as a reliable trade partner. If they follow the US strategy of sanctions, then they’ll set themselves up for economic isolation. The US can get away with it because the dollar is the reserve currency.
Tldr: They’re not going to sanction anyone in the future, that would be antithetical to their defense strategy against US imperialism.
This is a fantastic analysis and I’d like to add: this is why China will never wield its economic power as a weapon. We often ask why China doesn’t just sanction the US or any country that is overtly hostile to it, and your 2nd paragraph encompasses why they don’t.
Dedollarization is the only way to stop US imperialism. The US has suffered nothing but military defeats in every war it has participated in as a belligerent. Despite this, US imperialism hasn’t been dealt crushing blows from lost wars. Those blows come from shifting and building trade routes and partners, which is what China is keen on.
Anything short of dedollarization is not going to end US hegemony. Every military victory against the US must be towards the ultimate goal of dedollarization. Otherwise it’s just putting off the inevitable us friendly regime change (see Syria).
China knows this, they know using their economic power as a weapon would jeopardize their reputation as a reliable trade partner. If they follow the US strategy of sanctions, then they’ll set themselves up for economic isolation. The US can get away with it because the dollar is the reserve currency.
Tldr: They’re not going to sanction anyone in the future, that would be antithetical to their defense strategy against US imperialism.