As the United States causes financial havoc with the rest of the world, other countries are making moves on their own to help their economies. As reported in the Wall Street Journal on Oct. 8th, in September China supported a Russian proposal to start direct trading between the yuan and the ruble. China has also set up a similar deal with Brazil.
Also, Premier Jiabao Wen was in Istanbul to reach an agreement with Turkey to use their own currencies (no U.S. dollar included) in tripling trade to $50 billion over the next five years. According to Turkish Prime Minister Tayyip Erdogan: "We are forming an economic strategic partnership . . . In all of our relations, we have agreed to use the lira and the yuan."
So much for the U.S. being the world's central bank. As these types of moves continue (who can blame other countries, since our economy is a wreck), the U.S. will become increasingly upset. Don't forget, the U.S. government doesn't like to lose at anything, especially a financial war.
So the question is: When does the U.S. launch a real war against China, since China will ultimately win the financial war?
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The overtaking of America could happen without ever having to fire a shot. China, and other lenders, will foreclose on American debt and we will have to either nationalize or attack to prevent overtaking of the US economy by the newly organized economic powers, US excluded.
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