Tag: Foreign exchange reserves

China getting rid of US debt holdings amid Washington DC’s escalatory actions and overall US decline

Tina Marie (Ms. Cat)

This year marks exactly 50 years since the establishment of ties between the United States and the People’s Republic of China. US President Richard Nixon visited China in 1972 and initiated an unprecedented thaw in relations, the first ever between a Communist power and a leading capitalist one. It was a very unusual occurrence, especially as the (First) Cold War was reaching its zenith precisely at that time. Although Mao Zedong himself and Nixon paved the way for the establishment of this relationship, it was only after Deng Xiaoping took power that the modern Sino-American relationship grew and in many ways shaped the economic and geopolitical realities of our time.

China getting rid of US debt holdings amid Washington DC’s escalatory actions and overall US decline

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US debt held by China drops to lowest in 12 years

Speaking at a Senate Banking Committee hearing, Federal Reserve Chairman Jerome Powell acknowledged that the recent battle with inflation could tip the country into another recession.

By endangering the petrodollar, Ukraine conflict brings multipolar world & U.S. revolution far closer

Tina Marie (Ms. Cat)

The U.S. empire’s social stability can no longer rely on buying off the workers within its own borders. When Che Guevara observed that international worker solidarity gets undermined by the proletarians in the core imperialist countries receiving special benefits compared to the proletarians in the exploited countries, he was right. But with the contraction of capital, and the consequential introduction of neoliberalism to keep capital afloat, this has changed. Every year, the masses within the United States face conditions that are more like the ones in the Global South. The global wealth gap is still the primary wealth gap in a macro sense, but this widening of the U.S. empire’s internal inequality represents a contradiction which can bring about the empire’s defeat from within. And therefore a major step towards eliminating the global gap.

By endangering the petrodollar, Ukraine conflict brings multipolar world & U.S. revolution far closer

Venezuela’s Maduro Calls for Dialogue in Ukraine Crisis, Rejects NATO ‘Mockery’ of Minsk Accords

Tina Marie (Ms. Cat)

Venezuela’s Maduro Calls for Dialogue in Ukraine Crisis, Rejects NATO ‘Mockery’ of Minsk Accords

Experts have warned that the measure could ultimately actually serve to boost the development of a system parallel to the SWIFT service that is not beholden to the US and EU.

“Both Russia and China have generated alternative mechanisms of economic resistance, such as interbank payment systems outside SWIFT. Insofar as imperialism intensifies its violence, it only ends up pushing the very hegemony of the dollar in the world and the monopolies that NATO represents off a cliff,” Rivas went on to tell Venezuelanalysis.