https://sputnikglobe.com/20230621/pressure-on-us-dollar-debt-likely-drove-blinken-effort-to-mend-ties-with-china-1111349196.html
Pressure on US Dollar, Debt Likely Drove Blinken Effort to Mend Ties With China
Pressure on US Dollar, Debt Likely Drove Blinken Effort to Mend Ties With China
Sputnik International
Secretary of State Antony Blinken likely sought to stabilize relations with Beijing because the US felt pressure from China's withdrawal of support for the dollar and the enormous US government deficit, analysts told Sputnik.
2023-06-21T01:46+0000
2023-06-21T01:46+0000
2023-06-21T01:45+0000
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us
us-china relations
antony blinken
michael brenner
ivan eland
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From June 18-19, Blinken visited China for talks with President Xi Jinping, Director of the CCP Central Foreign Affairs Office Wang Yi and other senior officials. During the trip, the secretary highlighted the importance of maintaining open channels of communication and made clear that the United States will responsibly manage the competition so that the relationship does not veer into conflict. "The United States has painted itself into a corner with China: they want to do their usual destabilization/regime change thing, except China is still the second largest creditor the United States has, and it has been getting rid of the US debt quite aggressively over the last two years." Now China and Russia are increasingly shifting to national currencies in their trade and that could lead to many other nations abandoning the dollar and triggering a huge financial crisis in the United States, Krainer warned. Independent Institute Center for Peace & Liberty President Ivan Eland believes that Blinken's trip was meant to stop the relationship between Washington and Beijing from deteriorating even further. "The Biden administration was concerned that US relations with China were sinking to dangerous levels. His meeting with Xi, itself noteworthy, did not produce many tangible breakthroughs but did seem to stop the free fall in bilateral ties," he said. A mild thaw in relations could set in, but there are still no indications of any major progress on defusing potential sources of serious hostilities, Eland cautioned. Blinken 'Bows' to China on TaiwanBlinken's trip comes as tensions between the US and China reached new heights over Washington continuing to approve military aid packages for Taiwan. Beijing opposes any official contacts of foreign states with Taipei and considers Chinese sovereignty over the island indisputable. Blinken at a briefing said the US does not support Taiwanese independence, a public display that enraged hawkish members of Congress, despite the fact the US top diplomat was basically reiterating Washington's long-held official position. US Sen. Marsha Blackburn (R-TN) in a tweet said the Biden administration failed to "stand up" to China, while congressman Ben Cline (R-VA) called Blinken's statement "a dangerous display of weakness" on the world stage. Trend Research Journal publisher and former Wall Street hedge fund manager Gerald Celente said the United States "bowed" to Chinese pressure because business is more important than "ramping up conflict." In terms of the future, University of Pittsburgh Professor of International Affairs Michael Brenner believes no serious dialogue is possible if the US continues its economic war against China. Despite the need for a new approach, however, the hawks in Congress and the White House will continue down the same path, Brenner told Sputnik. "The neocons have no reverse gear or adaptability to discomforting reality," Brenner added.
https://sputnikglobe.com/20230619/blinken-goes-to-beijing-us-secretary-of-state-visits-china-for-first-time-in-five-years-1111272414.html
https://sputnikglobe.com/20230620/blinken-blinked-us-foreign-policy-chiefs-fruitless-flight-to-beijing-1111328207.html
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us dollar, antony blinken, us-china ties, us government deficit, analysts,
us dollar, antony blinken, us-china ties, us government deficit, analysts,
Pressure on US Dollar, Debt Likely Drove Blinken Effort to Mend Ties With China
WASHINGTON (Sputnik) - Secretary of State Antony Blinken likely sought to stabilize relations with Beijing because Washington has begun to feel pressure from China's withdrawal of support for the dollar and the enormous US government deficit, analysts told Sputnik.
From June 18-19, Blinken visited China for talks with President Xi Jinping, Director of the CCP Central Foreign Affairs Office Wang Yi and other senior officials. During the trip, the secretary highlighted the importance of maintaining open channels of communication and made clear that the United States will responsibly manage the competition so that the relationship does not veer into conflict.
"The United States is feeling itself squeezed and probably needs to make nice with China," Krainer Analytics founder Alex Krainer told Sputnik.
"The United States has painted itself into a corner with China: they want to do their usual destabilization/regime change thing, except China is still the second largest creditor the United States has, and it has been getting rid of the US debt quite aggressively over the last two years."
Now China and Russia are increasingly shifting to national currencies in their trade and that could lead to many other nations abandoning the dollar and triggering a huge financial crisis in the United States, Krainer warned.
"If they [the Chinese] continue to dump US treasuries, they could depress its price, push interest rates higher and trigger a selling stampede by other nations as well. This is one of the biggest risks that the United States is facing," he said.
Independent Institute Center for Peace & Liberty President Ivan Eland believes that Blinken's trip was meant to stop the relationship between Washington and Beijing from deteriorating even further.
"The Biden administration was concerned that US relations with China were sinking to dangerous levels. His meeting with Xi, itself noteworthy, did not produce many tangible breakthroughs but did seem to stop the free fall in bilateral ties," he said.
A mild thaw in relations could set in, but there are still no indications of any major progress on defusing potential sources of serious hostilities, Eland cautioned.
"It is likely now that US-Chinese economic relations will get better. However, [there is] still no Chinese agreement for military-to-military ties improving - including deconfliction of military operations," he said.
Blinken 'Bows' to China on Taiwan
Blinken's trip comes as tensions between the US and China reached new heights over Washington continuing to approve military aid packages for Taiwan. Beijing opposes any official contacts of foreign states with Taipei and considers Chinese sovereignty over the island indisputable.
Blinken at a briefing said the US does not support Taiwanese independence, a public display that enraged hawkish members of Congress, despite the fact the US top diplomat was basically reiterating Washington's long-held official position.
US Sen. Marsha Blackburn (R-TN) in a tweet said the Biden administration failed to "stand up" to China, while congressman Ben Cline (R-VA) called Blinken's statement "a dangerous display of weakness" on the world stage.
Trend Research Journal publisher and former Wall Street hedge fund manager Gerald Celente said the United States "bowed" to Chinese pressure because business is more important than "ramping up conflict."
In terms of the future, University of Pittsburgh Professor of International Affairs Michael Brenner believes no serious dialogue is possible if the US continues its economic war against China.
Despite the need for a new approach, however, the hawks in Congress and the White House will continue down the same path, Brenner told Sputnik.
"The neocons have no reverse gear or adaptability to discomforting reality," Brenner added.
