Since 1949, three (PRC leaders) (Mao Zedong, Deng Xiaoping and Xi Jinping) threw into the waste basket the agreements and protocols agreed upon till then and negotiated their own versions for adoption, whenever they regarded doing so as advantageous to China.
When Xi Jinping took over from Hu Jintao in 2012, the rest of the party leadership was strong to a degree that it had not been during the period in office of the growth-focused Jiang Zemin and the first term of the softer hand of Hu Jintao.
Apart from seeking to convert the PRC into the central logistics trade and transport hub of the globe, Xi Jinping also began a process of increasing gold stocks as well as silently moving towards a digitalised currency.
While conservative minds anchored in the past initially prevailed within the CCP and sought to avoid crypto currency and digitalisation, by now such voices have been stilled by the technocratic Xi, and China has become the first large economy to go in for Blockchain [...] .
In the past, sanctions and other measures constricted the economy of the USSR to such a level that the country imploded in 1992. The expectation within China hawks in Washington is that similar pressure would create a like situation within the PRC.
Among the measures likely to be taken by the US to reduce the flow of $ to China is the likely withdrawal of the privileges that Hong Kong is enjoying... .
More than 70% of the PRC’s USD supply comes from the HK window, & the shutting of that will worsen Beijing’s USD shortage
More than 70% of the PRC’s USD supply comes from the HK window, & the shutting of that will worsen Beijing’s USD shortage
The assumption that a President Joe Biden would be soft on China seems unrealistic. Acceptance of the postulate that China must not be allowed to elbow out the US as the lead technological and economic power has been mainstreamed within the policy community, whether Red or Blue.
Under President Tsai Ing-wen, Taiwan has from the start of her term been distancing itself from China. This policy has led to Taiwan escaping the fate of Italy, where linkages with the PRC have grown substantially during the past 15 years.
That country, unlike Italy or Germany, seems to have read the tea leaves and has begun the process of de-coupling from China. In contrast, India is still in the “non-aligned” box, maintaining a welter of conflicting relationships.
Galwan has changed the public mood towards China in India in a manner that has been seen elsewhere as a consequence of the novel coronavirus pandemic.
The Lutyens Zone and its not small number of holdovers inside the government are still loath to admit that Russia is now China’s closest security partner. The future of Russia under the brilliant strategist Putin is firmly tied to that of a China led by the transformational Xi.
Interestingly, while India overwhelmingly depends on Russia for defence, it does so in telecom for China, the same two countries which are close allies of each other. Sino-Russian links are multiplying at speed, although the Lutyens Zone pretends otherwise.
The steady de-coupling of the US, Japan and other countries from China has led to price instability and job losses in the world’s second-largest economy.
Given their narrow focus on personal profit with minimum effort, several businesspersons in India, India has become a reliable dumping ground for a miscellany of Chinese products, most crucially in technologies such as mobile telephony.
In a way, consumers in India have been subsidising both the Pakistan army as well as the PLA through the steadily rising trade deficit with China.
Apart from the worries created by trade frictions, the Chinese economy is also being battered by the shrinking of demand for its products caused by the global economic collapse that is a consequence of the Great Lockdown Strategy of the WHO in fighting the novel coronavirus... .
Once India follows the military logic of the situation on the border and chooses its side rather than swing here and there, the odds that China will prevail over the US in the ongoing contest between the two sides will lessen considerably.
The Galwan incident may prove to be a watershed moment in the existential battle between Beijing and Washington should India abandon its longstanding policy of neutrality, in large part out of consideration for Moscow, which is now firmly on the PRC side.
What took place on land at Galwan may happen again,this time on China Seas or in air over Taiwan straits. India sitting out rather than participating in such a confrontation between 🇨🇳🇷🇺 alliance & countries such as 🇯🇵🇦🇺🇫🇷🇬🇧 is no longer as certain as was case before 15 Jun 2020.
Full article @ "India may re-evaluate neutrality in the US-China war" - The Sunday Guardian i.mdnalapat.com/tsg210620
