The weaponization of dollars and SWIFT system by the Americans is setting a alarm clock for all non-western nations not only China, to rethink about what's the alternative to the dollars and SWIFT system if your country is suffering sanctions from the Americans and the West in general? how to build This alternative ?
2022 is the turning point of the event in this 21st century. Ukraine war is the tip of the beginning major process to detrone USD in progress when FED start raising interest rate soon..... Wait and see
@@spankythemonkey9828 It will never be, too small to really cover big transactions, TOO UNSTABLE. Nobody will trust a currency that today costs 39,000 to a dollar and next may be 30,000 to a dollar. Bitcoin is just for stockmarket investments. Earn your money today and get out.
Other countries are trying this for decades. But on one hand, USD is too addictive. On the other hand, US is active destroying other systems, such as starting the Kosova war.
Its not easy to china since their forex reserve mostly in usd, however this is not only china's obligation to devise alternative equalizing fx but whole asian countries should take a part.
There is a report of the hidden reserves of gold bullion which is 2 to 3 times the declared amount Because of the current non convertibility( limited) and digital yuan and also its trade agreement with Iran and Russia, , china is surely But quickly DECOUPLING from the us dollar Reports of USA making ventures towards Venezuela to alleviate the oil crisis to replace Russia and removing SANCTIONS on Iran Is America's next move
China has already started the process of chipping away the US dollars. It is not fully ready yet but a whole new alternate trading system is being built around Blockchain and digital currency. And the blunt use of the US dollars against Russia will cause many countries to rethink about the use of the currency and the alternative. This will help to increase traction of the Chinese alternative.
Watch out in 2022, Ukraine war is the major turning point of the event in this 21st century . Putin and Xi art of chess war strategies vs US Biden dollars hegemony - it's either dollars strengthen or fall in the process .....
So they SANCTION at least over 3000 plus times according to china Have Cuba, north Korea, iran and Venezuela been erased from the earth The rising oil prices is actually a curse with side effects of price rises at the pumps for American consumers and also the supply chain
@Beast Mode It's a double whammy Prices at the pumps for American motorist translates into higher inflation rates and additional costs in the supply chain
@Beast Mode We still need to seek a solution if Humanity were to survive. Definitely, it's not to appease the warmongering Imperialists. In a nuclear exchange, they have everything to lose, their wealth and current control over the world. Putin's Russia clearly stated that they have nothing to lose in a nuclear war. If it happens, the blame will rest on the Imperialist who is pushing Russia too far. Since it has not happened, it behoves the people of the West to restraint their warmongers who are mainly part of the Military Industry Complex. Never try to corner a salvage bear! Will there be a nuclear war should a stray bullet touches one NATO territory? Of course, not! NATO barks more than it could bite. This can be clearly deduced from the Ukrainian conflict. In a MAD scenario, they have everything to lose. The Imperialists just want perpetual conventional war and conflict, not Armageddon, as a way of maintaining their wealth and power. A rising China and Russia who offer the world an alternative future is worth considering (where the Imperialists are not at the apex of world power). In such a world, the worst war criminals will be punished and the excesses of the Capitalists would be restrained. The West would have to learn to live in this multipolar world and help build a true 'Human Civilization'.
Yeah, the thing is that the Russian economy is one of the most independent and sanction-proof economies in the world. Even the Western sanctions don't affect Russian oil and gas sales to Europe. That's why Russia went ahead with this war.
yes, russia is self sufficient for food now, since the 2014 sanctions began. it can rely on india and china for additional generic medicin and china for consumer goods. and since america and europe depend on russia for oil and gas, the energy sector is exempted from sanctions cause it would hurt the western economy too much, and that is a weapon putin is keeping in reserve.
".. USD... damage Russia Dramatically..." A decade ago, Yes, Russia will be in big financial troubles if US imposed USD sanction on Russia. However, the situation has changed. China could manufacture almost anything that the world needs ( except 7nm semiconductors, commercial aircraft turbofan engines , Western medicine ). Russia could export energy (oils and natural gas) to China, in exchange for all the goods they need. USD sanction on Russia has little effect on the daily life of the Russian because of China. The world will eventually wake up to reliaze that America technology, products and services (SWIFT, USD) are not reliable. Why ? Because you never know when they will sanction you for using US technology and services and USD. Never buy American products or use US services (USD included) if you have _other_ alternatives.
Seriously, China do not surprised at all if you follow up on china media news, China has knew all it insidious US conspiracy traps all along. The art of war strategies : keep tab and know your adversary better than themselves are, hence you could plan properly ur next moves in advance . China has said in it social TH-cam media already , let wait and see in 2022 which they used to hint : "it's a major revolution of the time in this century " The game has indeed begun, Tip : 1st half of the game is Russia went straight into the US conspiracy traps being well set up in ukraine war - however it's Russia strategy to turn the tide and passing back the ball back to US which the war has created a seemingly unstable and rising nervous market scenario/ trend for investor in US thus building up a sense of inflationary pressure to remain indefinitely for time being till......well, To be discuss in exact strategy explanation in future.... As matches is still in progress in Ukraine
The dollar had no effect on mao, why would it have an effect on putin who sits atop the wealthiest country in the world? The dollar is a problem for the qing dynasty and Singaporeans are desperate for china to become qing again.
@@chantow8657, I bet Beijing will be Washington best friend if China just Follow and Obey everything and anything that USA says. Likewise, the day will come when an Indian company has an Operating System that is more advanced and cheaper than Microsoft Windows - The CFO of this Indian company will be arrested and all of a sudden _India is the threat_ India is US best friend because India is poor, backwards, uncompetitive and outdated technology. Simply put *India is nothing in the eyes of the American* Go work harder, be excel in a field ( ie. Operating system, software, etc ) to surpass the US, and see what happens!
@@chantow8657 I don't care about what Russians and Chinese say, they were things of past. Yes, you're correct partially when you say that 🇺🇸 and 🇮🇳 are on the same side and on same page when it comes to matters related to Indo-pacific defence and strategy; but if we examine the rise and fall of nations, no two big power exists together, there is always a leading power. 🇷🇺(USSR) was a power of Yesterday along with 🇺🇸 , 🇺🇸 survived because of its petrodollar wealth, democracy and independent judiciary and hence it is the power of Today and 🇨🇳 will become a power of tomorrow, but whether you like it or not, India 🇮🇳 will surpass 🇨🇳 and become an undisputed powerhouse after 2035. It will surpass USA in terms of economic growth, defence research/development and procurements. 🇮🇳 being a largest democratic nation will pursue its own independent path and will refuse to view the world through ANGLO SAXON eyes (example is in front of you), this will inevitably put them in the cross hairs of 🇺🇸 (Even worst, that 🇺🇸 ally and superpower of bygone era, 🇬🇧‘S foreign secretary is confused about regions in Baltic Sea vs Black Sea, which is 700 miles apart) which currently have Diplomats who are far less competent than junior level Indian Foreign Service officers (who are selected from a pool of almost a million eligible and University graduate applicants). On top of being obese, 45% of the US students think that Afghanistan is just another state, South of Mexico. Some of these obese cohort will make into Congress and into Oval Office someday (one already had his 4 years stint). So, India as a largest democratic nation and an undisputed heavyweight power of tomorrow will adopt an Independent foreign policy than that of USA and Co. and will do everything to prepare itself for pursuing the Global leadership. For your reference, following are the flag legends: 🇬🇧- United Kingdom (even called as England, even though England is only one country which makes up the UK, other three being, Scotland, Wales and Northern Ireland) 🇨🇳- China (also known as People’s Republic of China) 🇮🇳- Bharat (the ancient civilisation which wholeheartedly welcomed and embraced two murderer clans- The Mughals and East India Co, 🇬🇧) 🇺🇸- United States of American, colonised by white Europeans (The invasion of the North American continent and its peoples began with the Spanish in 1565 at St. Augustine, Florida, then British in 1587 when the Plymouth Company established a settlement that they dubbed Roanoke in present-day Virginia). Thanks
@@samad3251 by what metric do you project India to be undisputed powerhouse by 2035. If anything that will be China. India if it ever does become the dominant power, will take much longer. 7% annual growth is not enough and India struggles to maintain even that. Automation will be a huge issue for India too. It will erode India’s low cost worker advantage.
F *** everything he knows is nothing who doesn't know america set up a great trap for the world using USD. Only Americans and dumb westerns are oblivious.
Development of the RMB as the world's reserve currency seems to accelerate quicker than Kishore anticipates, because the sanctions on Russia will create more problems for Europe and USA than they imagine. The world is no longer dependent on USA (except for creating wars and general misery), whereas China and Russia together have all the necessary resources, which they just stop selling to USA. Titanium and rare earth are two immediate examples. Also, African and Latin - and South American countries will see with whom a better future is most likely. So it is just to hope that the red dwarf that is USA will fall into darkness quietly.
What is most revealing during this period is the strength and appreciation of the RMB. In the past there was always been a rush to the USD and, wonder of all wonders, the Japanese Yen as a Safe Haven currency! There is now and perhaps in the future as well a seismic shift in perception by the world's wealthy! Gone are days when the RMB is treated as a junk currency!
In a way yes. But Russia is so self sufficient in all essential item such as food, energy needs. Their economy are basically quite independent of the world. It's energy sector supplies a quarter or more of the world needs. So now basically it's the world needs more of Russia resources than Russia need of the world.
@@thieunguyen4908 ahah.. but they do not need to. They will still take USD and the US will still let them too. Just via avenues that the US cant sanction.
@@一个说话大声的中国人 When people cannot use logic or brain to argue or make a point, they retort to insult very quickly. Enlighten us all here how we all can off US dollars for international trade?
@@thieunguyen4908 When blind cannot see facts, their brains know only logic to argue and make a point is everything to them; they quickly took facts as insults.
".. USD... damage Russia Dramatically..." A decade ago, Yes, Russia will be in big financial troubles if US imposed USD sanction on Russia. However, the situation has changed. China could manufacture almost anything that the world needs ( except 7nm semiconductors, commercial aircraft turbofan engines , Western medicine ). Russia could export energy (oils and natural gas) to China, in exchange for all the goods they need. USD sanction on Russia has little effect on the daily life of the Russian because of China. The world will eventually wake up to reliaze that America technology, products and services (SWIFT, USD) are not reliable. Why ? Because you never know when they will sanction you for using US technology and services and USD. Never buy American products or use US services if you have other alternatives.
I agree with Prof Kishore on US dollar dominance, however this day has already arrived if US going to use it on China...What will happen when US decouple with China ?? As we all know that China is the biggest trade partner of most country around the world and any sanction on them will eventually harm everyone including US ....We should look into the problems caused by the sanction on both side could face rather than China alone which is not practical ...Range from Pharmaceutical products , daily products , technological products and many supply chain will be halt from China what will happen US and the rest of world ...Every country will become desperate for all those products and start to ditch USD for other alternative, what will happen to US dollar ?? Overnights USD will collapse and US economy will collapse at the same time when this happens US military well eventually collapse as well ....Have anyone think of this ?? Who will be the biggest loser ?? China or US ..
@@level1selamat155 If it impossible why US so determined trying to stop China from rising ?? why not India ?? Why not Malaysia ?? It seem it doesn't need anymore explanation...
@@liubang9375 White people will never see us a equal! US is not alone, all middle powers & anglo-saxon countries are with the US! The naratives & public opinions in these countries are like brain washed & entrenched into the Western world. Most governments in ASEAN are either neutral, wary of leaning toward China & this is fortunate for China as they are the buffer zone for China. Ask yourself, the majority of people (non-overseas Chinese), how they fell about China? Try to mingle with them you may be in for an unpleasant surprise.
@@level1selamat155 you so right, you the smartest asian, you work hard for whities and beat china down, all asian must not mingle with chinese, all asain must worship white people, all asain women must comfort white men
The dominance of the USD has also been a curse to the USA. It has made the waging of wars that bankrupt itself on borrowed funds possible. Wars will have been less likely if they must be funded by taxation or domestic bonds. It is also the cause of huge trade deficit.
How come the majority of Americans are unable to see this? American wars benefit the few and create problems for the rest. When will they exercise their true democratic rights to rid themselves of the war criminals and lead the world to peaceful coexistence with their contrived enemies?
@@adamiskandar5107 Many even educated Americans have never had at least one course in macroeconomics. The link between the ability to print the US currency in global demand and trade deficit is understood by only by few. The desire to print money had been to fund wars without taxation or domestic bonds, so wars to a large extent are also the cause of large trade deficit. If Americans were great savers, then this would not be as major a cause, but we are not.
China not only wants to protect herself from USD blackmail, she should work with all trading partners to cripple, yes, destroy the USD, pretty much like eradicating a plague or curing polio.
True even if China need to do once out of time. I do believe China will do it. My country has agreed to ditch USD in our both countries business. Then other neighbouring countries suddenly agreed to do it too with our trades. We have lobbied this for years and it always meet a dead end. But these past years, more countries see how unstable US now become..
@@xueueux Friend, watch George Galloway interview with Carl Zha on the Russian Visa/MasterCard and see how US once again lift a rock to smash its own feet.
Saudi Arabia can change this change the currency to sell OIL as I understand it was Henry Kisinger US secretary of state at the time asked the Saudi to sell their oil in US currency that's how it all started
(US) United States call it "Liberation" instead of "Invasion". That was what US call it in Iraq, Afghanistan, Libya, Syria, Yemen, Somalia and the list goes on... Why the double standard? Confused... Please enlighten. Genuine question... Instances of the United States "liberated" or overthrowing, or attempting to overthrow, a foreign government since the Second World War. (* indicates successful ouster of a government) China 1949 to early 1960s Albania 1949-53 East Germany 1950s Iran 1953 * Guatemala 1954 * Costa Rica mid-1950s Syria 1956-7 Egypt 1957 Indonesia 1957-8 British Guiana 1953-64 * Iraq 1963 * North Vietnam 1945-73 Cambodia 1955-70 * Laos 1958 *, 1959 *, 1960 * Ecuador 1960-63 * Congo 1960 * France 1965 Brazil 1962-64 * Dominican Republic 1963 * Cuba 1959 to present Bolivia 1964 * Indonesia 1965 * Ghana 1966 * Chile 1964-73 * Greece 1967 * Costa Rica 1970-71 Bolivia 1971 * Australia 1973-75 * Angola 1975, 1980s Zaire 1975 Portugal 1974-76 * Jamaica 1976-80 * Seychelles 1979-81 Chad 1981-82 * Grenada 1983 * South Yemen 1982-84 Suriname 1982-84 Fiji 1987 * Libya 1980s Nicaragua 1981-90 * Panama 1989 * Bulgaria 1990 * Albania 1991 * Iraq 1991 Afghanistan 1980s * Somalia 1993 Yugoslavia 1999-2000 * Ecuador 2000 * Afghanistan 2001 * Venezuela 2002 * Iraq 2003 * Haiti *2004 Somalia 2007 to present Honduras 2009 * Libya 2011 * Syria 2012 Ukraine 2014 *
That's the promise when U.S.A persuaded other countries to use dollar in international trades, but hell, U.S.A is such a shameless cock, never keep its promise.
This kind of weapon you should use very careful. Otherwise, no one wants put money into dollars and dollars will lose its power eventually, such as freezing Afghanistan’s money.
Dollar is essentially a vote of confidence in American economy and plus the fact oil is traded in dollar. The only way for China to displace dollar is to grow economy and most importantly to displace US position on top of the technology value chain.
Deceit should be called deceit not weapon_ sorcerers surfing on the thin air! Also, let's call it dollar mindset, not just dollar. It's the mindset which is detrimental, be it yen or rial, or euro it would be all the same. As long as usurious banking system is the foundation of the finances and economy, peole would suffer.
And the use of the USD and the Western dominated international financial system in this manner against Russia will also be the impetus for its dismantling. Which main would want to be held ransom to such a system?
USD impact is less today on Russia because of its strong economic tie with China. Its commodity export to the world is also more diversified with alternative payment. This Russian speaking Canadian businessman, Marin Katusa, has deep insights on Russia: th-cam.com/video/FwXIWWSUAPs/w-d-xo.html
The question I ask myself is will China unilaterally withdraw from the swift messaging system once they have their alternative functioning. What effect will this have on the dollar?
Singapore, being a leading voice of ASEAN, should not be silent by taking a stand of saying "balancing power". Hell, it's your neighborhood with outsiders intruding your peace with the help of Australia, beside the usual lapdogs. Surely, you need to take a stand and forewarn a country like Australia which hasn't simulated itself into the eastern culture but always takes on a "superior attitude" of the West.
".. USD... damage Russia Dramatically..." A decade ago, Yes, Russia will be in big financial troubles if US imposed USD sanction on Russia. However, the situation has changed. China could manufacture almost anything that the world needs ( except 7nm semiconductors, commercial aircraft turbofan engines , Western medicine ). Russia could export energy (oils and natural gas) to China, in exchange for all the goods they need. USD sanction on Russia has little effect on the daily life of the Russian because of China. The world will eventually wake up to reliaze that America technology, products and services (SWIFT, USD) are not reliable. Why ? Because you never know when they will sanction you for using US technology and services and USD. Never buy American products or use US services if you have other alternatives.
Common international currency (CIC) can be started by all like minded countries but which is not the currency of any one country. No one can decide, how to give value to this new CIC but to start with all can take present dollar value itself as starting value because so far currency valuation happening with it, to avoid Problem of deciding value of currency then this CIC is not under anyone country influence.
I would think even US allies are also slowly working their plan in the quiet. For a country whose only consideration is national interest and America first, today friends can become tomorrow enemy. Yesterday enemy are today allied. No harm to be prepared for any eventuality. Remember? To be US friend is fatal.
I'm No Economic Expert, but how is it US the World's Richest Country , when 1.1) It had been running a Trade Deficit for 46 yrs since 1976, 1.2) US National Debt First 216 years 5 Trillion. +8 Years (2008)10 Trillion +8 Years (2016) 20 Trillion +5 Years (2021) 30 Trillion. and They Just Keep Printing More USD whenever they're In Trouble. Sounds to Me They're Continuing with Their Rich Lifestyle While the Rest of the World Pays for It, as long as USD is the Default Currency.
It is not some inherent strength of the dollar but the strength and size of the US economy that the economic actors accept dollar as the means of payment and standard of measuring value. It is the acceptance and trust in a means of payment that upholds a certain monetary system. When another country's economy becomes comparable or larger, that country's papers (acting as money) would automatically become more appealing than dollar as means of measuring and storing wealth. Everyone knows China's economy is moving in that direction, so why should China additionally expend mental resources on worrying about the dollar as weapon. Of course there are non-economic actions that US takes to keep that trust in dollar going, but only because its economy is of a certain magnitude compared to other world economies that it can take those non-economic actions. When that magnitude loses its relative edge, the non-economic actions would also stop producing the intended result. No country, including India, hoping to grow the relative magnitude of its economy would be unnecessarily occupied with the competitors currency, but with the effective organisation of production, technological advances, increasing productivity, increasing actual per-capita income and consumption, and relative production of value and wealth as a whole.
Emphasis on an established valued exchange medium when officially denied access, does not do away with the want of the goods. Hence, a short term hiccup is expected, but buyers will circumvent the obstacles to get to the goods. As such, US$ is denying itself out of these markets. Present sentiments regarding an increasing mismanagemt of the US$, decreasing confidences, and a growing need to protect against losses from a sudden US$ crash, such US actions accelerates world actions to find the alternatives.
But US can't sanction chaina in any situation because if if chaina been sanctioned then US and their ally don't have anything to live with because 80% products in Europe markets are chainese made, Chaina is second largest economy in the world and if it sanctioned that means Global economy in very long-term depression.
e-CNY is just digital yuan. Of course it has added benefits to the cash yuan but they are one and the same thing. China is just rying to transition to e-CNY as it is the wave of the future. Beside, nobody uses yuan cash anymore in China.
After hearing this I begin to wonder what will happen to Temasek Holdings when the current PM Mr. Lee steps down leaving behind such a vast sovereign funds, will it be mismanaged like its neighbor M’sia 1MDB! For human by nature is corrupt & greedy. Choosing the next capable & reliable S’pore PM is a real big issue. Not an easy task I would say but interesting to know what have you, Kishore Mahbubani to say on this. It’s all about money too.
RMB might not be view as a strong candidate for currency reserve. China's expansion of it's trade around the globe will continue to weaken USD dominance. And US internal issues are working against it at the same time. Our trade deficit, lower employment numbers, inflation, monetary policies, education...too many to name. If we want the dominance we once had , we need to first realize that we are in decline. I think many of us are just too proud to recognize it. Another thing to consider, economical sanctions works well when targeting small economies, but won't work quite the same when dealing with larger economies. So as China grows its trade around the globe, USD will start to lose it's grip.
![[#SHORTS CLIP] ใช้ของของตัวเองไปเลยสิคะ l ซานิเบาได้เบา l One Playground](http://i.ytimg.com/vi/Ea_mTywx2p4/mqdefault.jpg)
The weaponization of dollars and SWIFT system by the Americans is setting a alarm clock for all non-western nations not only China, to rethink about what's the alternative to the dollars and SWIFT system if your country is suffering sanctions from the Americans and the West in general? how to build This alternative ?
2022 is the turning point of the event in this 21st century. Ukraine war is the tip of the beginning major process to detrone USD in progress when FED start raising interest rate soon.....
Wait and see
Bitcoins.
@@spankythemonkey9828 It will never be, too small to really cover big transactions, TOO UNSTABLE. Nobody will trust a currency that today costs 39,000 to a dollar and next may be 30,000 to a dollar. Bitcoin is just for stockmarket investments. Earn your money today and get out.
@@rap3208 I agree with you about the unstable part.
Other countries are trying this for decades. But on one hand, USD is too addictive. On the other hand, US is active destroying other systems, such as starting the Kosova war.
Its not easy to china since their forex reserve mostly in usd, however this is not only china's obligation to devise alternative equalizing fx but whole asian countries should take a part.
The whole world.
There is a report of the hidden reserves of gold bullion which is 2 to 3 times the declared amount
Because of the current non convertibility( limited) and digital yuan and also its trade agreement with Iran and Russia, , china is surely
But quickly DECOUPLING from the us dollar
Reports of USA making ventures towards Venezuela to alleviate the oil crisis to replace Russia and removing SANCTIONS on Iran
Is America's next move
lol, a boy's head is incapable of understanding that keep your friends close but keep your enemy closer, grow up boy, are you capable of growing
RMB is not freely convertible！
At least, not yet！
Currency swap is under way
@@dennyli9339 Do you know what is free?
Define free?
US dollar was gold!
At least, not anymore！
China has already started the process of chipping away the US dollars. It is not fully ready yet but a whole new alternate trading system is being built around Blockchain and digital currency. And the blunt use of the US dollars against Russia will cause many countries to rethink about the use of the currency and the alternative. This will help to increase traction of the Chinese alternative.
Watch out in 2022, Ukraine war is the major turning point of the event in this 21st century . Putin and Xi art of chess war strategies vs US Biden dollars hegemony - it's either dollars strengthen or fall in the process .....
It’s too early to tell, but if you use an instrument too often, it will get blunt quickly.
So they SANCTION at least over 3000 plus times according to china
Have Cuba, north Korea, iran and Venezuela been erased from the earth
The rising oil prices is actually a curse with side effects of price rises at the pumps for American consumers and also the supply chain
@Beast Mode
It's a double whammy
Prices at the pumps for American motorist translates into higher inflation rates and additional costs in the supply chain
@Beast Mode We still need to seek a solution if Humanity were to survive. Definitely, it's not to appease the warmongering Imperialists. In a nuclear exchange, they have everything to lose, their wealth and current control over the world. Putin's Russia clearly stated that they have nothing to lose in a nuclear war. If it happens, the blame will rest on the Imperialist who is pushing Russia too far. Since it has not happened, it behoves the people of the West to restraint their warmongers who are mainly part of the Military Industry Complex. Never try to corner a salvage bear!
Will there be a nuclear war should a stray bullet touches one NATO territory? Of course, not! NATO barks more than it could bite. This can be clearly deduced from the Ukrainian conflict. In a MAD scenario, they have everything to lose. The Imperialists just want perpetual conventional war and conflict, not Armageddon, as a way of maintaining their wealth and power. A rising China and Russia who offer the world an alternative future is worth considering (where the Imperialists are not at the apex of world power). In such a world, the worst war criminals will be punished and the excesses of the Capitalists would be restrained. The West would have to learn to live in this multipolar world and help build a true 'Human Civilization'.
Don't you think that Russia was aware of it and they must have proper plan to sustain the war?
Yeah, the thing is that the Russian economy is one of the most independent and sanction-proof economies in the world. Even the Western sanctions don't affect Russian oil and gas sales to Europe. That's why Russia went ahead with this war.
yes, russia is self sufficient for food now, since the 2014 sanctions began. it can rely on india and china for additional generic medicin and china for consumer goods. and since america and europe depend on russia for oil and gas, the energy sector is exempted from sanctions cause it would hurt the western economy too much, and that is a weapon putin is keeping in reserve.
".. USD... damage Russia Dramatically..."
A decade ago, Yes, Russia will be in big financial troubles if US imposed USD sanction on Russia.
However, the situation has changed. China could manufacture almost anything that the world needs ( except 7nm semiconductors, commercial aircraft turbofan engines , Western medicine ).
Russia could export energy (oils and natural gas) to China, in exchange for all the goods they need.
USD sanction on Russia has little effect on the daily life of the Russian because of China.
The world will eventually wake up to reliaze that America technology, products and services (SWIFT, USD) are not reliable.
Why ?
Because you never know when they will sanction you for using US technology and services and USD.
Never buy American products or use US services (USD included) if you have _other_ alternatives.
Seriously, China do not surprised at all if you follow up on china media news, China has knew all it insidious US conspiracy traps all along. The art of war strategies : keep tab and know your adversary better than themselves are, hence you could plan properly ur next moves in advance . China has said in it social TH-cam media already , let wait and see in 2022 which they used to hint : "it's a major revolution of the time in this century "
The game has indeed begun, Tip : 1st half of the game is Russia went straight into the US conspiracy traps being well set up in ukraine war - however it's Russia strategy to turn the tide and passing back the ball back to US which the war has created a seemingly unstable and rising nervous market scenario/ trend for investor in US thus building up a sense of inflationary pressure to remain indefinitely for time being till......well, To be discuss in exact strategy explanation in future.... As matches is still in progress in Ukraine
The dollar had no effect on mao, why would it have an effect on putin who sits atop the wealthiest country in the world? The dollar is a problem for the qing dynasty and Singaporeans are desperate for china to become qing again.
fully agree we need to get out of the dollar
🇮🇳 also had a taste of 🇺🇸 sanctions, so 🇮🇳 is also actively researching and implementing ways to dodge 🇺🇸 sanctions in the future.
@@chantow8657, I bet Beijing will be Washington best friend if China just Follow and Obey everything and anything that USA says.
Likewise, the day will come when an Indian company has an Operating System that is more advanced and cheaper than Microsoft Windows - The CFO of this Indian company will be arrested and all of a sudden _India is the threat_
India is US best friend because India is poor, backwards, uncompetitive and outdated technology. Simply put *India is nothing in the eyes of the American*
Go work harder, be excel in a field ( ie. Operating system, software, etc ) to surpass the US, and see what happens!
@@chantow8657 I don't care about what Russians and Chinese say, they were things of past.
Yes, you're correct partially when you say that 🇺🇸 and 🇮🇳 are on the same side and on same page when it comes to matters related to Indo-pacific defence and strategy; but if we examine the rise and fall of nations, no two big power exists together, there is always a leading power. 🇷🇺(USSR) was a power of Yesterday along with 🇺🇸 , 🇺🇸 survived because of its petrodollar wealth, democracy and independent judiciary and hence it is the power of Today and 🇨🇳 will become a power of tomorrow, but whether you like it or not, India 🇮🇳 will surpass 🇨🇳 and become an undisputed powerhouse after 2035. It will surpass USA in terms of economic growth, defence research/development and procurements.
🇮🇳 being a largest democratic nation will pursue its own independent path and will refuse to view the world through ANGLO SAXON eyes (example is in front of you), this will inevitably put them in the cross hairs of 🇺🇸 (Even worst, that 🇺🇸 ally and superpower of bygone era, 🇬🇧‘S foreign secretary is confused about regions in Baltic Sea vs Black Sea, which is 700 miles apart) which currently have Diplomats who are far less competent than junior level Indian Foreign Service officers (who are selected from a pool of almost a million eligible and University graduate applicants).
On top of being obese, 45% of the US students think that Afghanistan is just another state, South of Mexico. Some of these obese cohort will make into Congress and into Oval Office someday (one already had his 4 years stint).
So, India as a largest democratic nation and an undisputed heavyweight power of tomorrow will adopt an Independent foreign policy than that of USA and Co. and will do everything to prepare itself for pursuing the Global leadership.
For your reference, following are the flag legends:
🇬🇧- United Kingdom (even called as England, even though England is only one country which makes up the UK, other three being, Scotland, Wales and Northern Ireland)
🇨🇳- China (also known as People’s Republic of China)
🇮🇳- Bharat (the ancient civilisation which wholeheartedly welcomed and embraced two murderer clans- The Mughals and East India Co, 🇬🇧)
🇺🇸- United States of American, colonised by white Europeans (The invasion of the North American continent and its peoples began with the Spanish in 1565 at St. Augustine, Florida, then British in 1587 when the Plymouth Company established a settlement that they dubbed Roanoke in present-day Virginia).
Thanks
@@samad3251
Don't bother its one of those wumao
US addicted and overused sanctions
@@samad3251 by what metric do you project India to be undisputed powerhouse by 2035. If anything that will be China. India if it ever does become the dominant power, will take much longer. 7% annual growth is not enough and India struggles to maintain even that. Automation will be a huge issue for India too. It will erode India’s low cost worker advantage.
Wonderful analysis. He is the smartest man in Asia. And always manages to get a plug in for his book. Smooth as silk.
He is very smart but NOT the smartest man in Asia. His previous boss was. Guess who?
F *** everything he knows is nothing who doesn't know america set up a great trap for the world using USD. Only Americans and dumb westerns are oblivious.
Kishore is a Dog, LKY dog to bark on modern civilization
@@walterlim4313 if he is a dog, you are less than dog shit.
No, is just one that speak English to media. In China there is a lot of intelligent people.
Listen Eric Le, Zhang Wei Wei
Development of the RMB as the world's reserve currency seems to accelerate quicker than Kishore anticipates, because the sanctions on Russia will create more problems for Europe and USA than they imagine. The world is no longer dependent on USA (except for creating wars and general misery), whereas China and Russia together have all the necessary resources, which they just stop selling to USA. Titanium and rare earth are two immediate examples. Also, African and Latin - and South American countries will see with whom a better future is most likely. So it is just to hope that the red dwarf that is USA will fall into darkness quietly.
Great smart Man. Libarl democracy and valueless valures made this country valueless.
What is most revealing during this period is the strength and appreciation of the RMB. In the past there was always been a rush to the USD and, wonder of all wonders, the Japanese Yen as a Safe Haven currency! There is now and perhaps in the future as well a seismic shift in perception by the world's wealthy! Gone are days when the RMB is treated as a junk currency!
In a way yes. But Russia is so self sufficient in all essential item such as food, energy needs. Their economy are basically quite independent of the world. It's energy sector supplies a quarter or more of the world needs. So now basically it's the world needs more of Russia resources than Russia need of the world.
They buy Russia gas and oil in US dollars. Russia will not take the renminbi or the rupee for payment.
@@thieunguyen4908 eaten too much agent orange, you so lucky, vietnamese are all so lucky, more agent orange for vietnamese please
@@thieunguyen4908 ahah.. but they do not need to. They will still take USD and the US will still let them too. Just via avenues that the US cant sanction.
@@一个说话大声的中国人 When people cannot use logic or brain to argue or make a point, they retort to insult very quickly. Enlighten us all here how we all can off US dollars for international trade?
@@thieunguyen4908 When blind cannot see facts, their brains know only logic to argue and make a point is everything to them; they quickly took facts as insults.
Always educational, Prof Kishore.
Kishore is trying very hard to be a shrill Sinophile to stay relevant in the pack 😕 😪 🙃 😒 🙄.
USA just exposed themselves with this one 😂
They all already have alternatives trading systems, India, Iran, Russia and China all have done this
@Beast Mode yeah but how long do you think it’ll take till they find a way out of that because it’s going to be soon
Can't agree more.
".. USD... damage Russia Dramatically..."
A decade ago, Yes, Russia will be in big financial troubles if US imposed USD sanction on Russia.
However, the situation has changed. China could manufacture almost anything that the world needs ( except 7nm semiconductors, commercial aircraft turbofan engines , Western medicine ).
Russia could export energy (oils and natural gas) to China, in exchange for all the goods they need.
USD sanction on Russia has little effect on the daily life of the Russian because of China.
The world will eventually wake up to reliaze that America technology, products and services (SWIFT, USD) are not reliable.
Why ?
Because you never know when they will sanction you for using US technology and services and USD.
Never buy American products or use US services if you have other alternatives.
No only China. All none US allied countries also wants an alternative
The beauty of China is that they work together to come up with long term sustainable solutions
Really?
Sir, you are the wisest man on earth
This is just on time a very important reminder for alternative.
The Russian and Chinese know very well working on it.
I agree with Prof Kishore on US dollar dominance, however this day has already arrived if US going to use it on China...What will happen when US decouple with China ?? As we all know that China is the biggest trade partner of most country around the world and any sanction on them will eventually harm everyone including US ....We should look into the problems caused by the sanction on both side could face rather than China alone which is not practical ...Range from Pharmaceutical products , daily products , technological products and many supply chain will be halt from China what will happen US and the rest of world ...Every country will become desperate for all those products and start to ditch USD for other alternative, what will happen to US dollar ?? Overnights USD will collapse and US economy will collapse at the same time when this happens US military well eventually collapse as well ....Have anyone think of this ?? Who will be the biggest loser ?? China or US ..
Impossible! US is the only super power in various ways. China still way far behind
@@level1selamat155 If it impossible why US so determined trying to stop China from rising ?? why not India ?? Why not Malaysia ?? It seem it doesn't need anymore explanation...
@@level1selamat155 mmmmm....yes level 1 logic
@@liubang9375 White people will never see us a equal! US is not alone, all middle powers & anglo-saxon countries are with the US! The naratives & public opinions in these countries are like brain washed & entrenched into the Western world. Most governments in ASEAN are either neutral, wary of leaning toward China & this is fortunate for China as they are the buffer zone for China. Ask yourself, the majority of people (non-overseas Chinese), how they fell about China? Try to mingle with them you may be in for an unpleasant surprise.
@@level1selamat155 you so right, you the smartest asian, you work hard for whities and beat china down, all asian must not mingle with chinese, all asain must worship white people, all asain women must comfort white men
The dominance of the USD has also been a curse to the USA. It has made the waging of wars that bankrupt itself on borrowed funds possible. Wars will have been less likely if they must be funded by taxation or domestic bonds. It is also the cause of huge trade deficit.
How come the majority of Americans are unable to see this? American wars benefit the few and create problems for the rest. When will they exercise their true democratic rights to rid themselves of the war criminals and lead the world to peaceful coexistence with their contrived enemies?
@@adamiskandar5107 Many even educated Americans have never had at least one course in macroeconomics. The link between the ability to print the US currency in global demand and trade deficit is understood by only by few. The desire to print money had been to fund wars without taxation or domestic bonds, so wars to a large extent are also the cause of large trade deficit. If Americans were great savers, then this would not be as major a cause, but we are not.
Debt is good ...study econ
My SG's Brilliant Man 👏 👌 🙌 always very informative and spot on 👍 👏 👌
China not only wants to protect herself from USD blackmail, she should work with all trading partners to cripple, yes, destroy the USD, pretty much like eradicating a plague or curing polio.
True even if China need to do once out of time. I do believe China will do it. My country has agreed to ditch USD in our both countries business. Then other neighbouring countries suddenly agreed to do it too with our trades. We have lobbied this for years and it always meet a dead end. But these past years, more countries see how unstable US now become..
@@xueueux
Friend, watch George Galloway interview with Carl Zha on the Russian Visa/MasterCard and see how US once again lift a rock to smash its own feet.
Saudi Arabia can change this change the currency to sell OIL as I understand it was Henry Kisinger US secretary of state at the time asked the Saudi to sell their oil in US currency that's how it all started
(US) United States call it "Liberation" instead of "Invasion". That was what US call it in Iraq, Afghanistan, Libya, Syria, Yemen, Somalia and the list goes on... Why the double standard? Confused... Please enlighten. Genuine question...
Instances of the United States "liberated" or overthrowing, or attempting to overthrow, a foreign government since the Second World War. (* indicates successful ouster of a government)
China 1949 to early 1960s
Albania 1949-53
East Germany 1950s
Iran 1953 *
Guatemala 1954 *
Costa Rica mid-1950s
Syria 1956-7
Egypt 1957
Indonesia 1957-8
British Guiana 1953-64 *
Iraq 1963 *
North Vietnam 1945-73
Cambodia 1955-70 *
Laos 1958 *, 1959 *, 1960 *
Ecuador 1960-63 *
Congo 1960 *
France 1965
Brazil 1962-64 *
Dominican Republic 1963 *
Cuba 1959 to present
Bolivia 1964 *
Indonesia 1965 *
Ghana 1966 *
Chile 1964-73 *
Greece 1967 *
Costa Rica 1970-71
Bolivia 1971 *
Australia 1973-75 *
Angola 1975, 1980s
Zaire 1975
Portugal 1974-76 *
Jamaica 1976-80 *
Seychelles 1979-81
Chad 1981-82 *
Grenada 1983 *
South Yemen 1982-84
Suriname 1982-84
Fiji 1987 *
Libya 1980s
Nicaragua 1981-90 *
Panama 1989 *
Bulgaria 1990 *
Albania 1991 *
Iraq 1991
Afghanistan 1980s *
Somalia 1993
Yugoslavia 1999-2000 *
Ecuador 2000 *
Afghanistan 2001 *
Venezuela 2002 *
Iraq 2003 *
Haiti *2004
Somalia 2007 to present
Honduras 2009 *
Libya 2011 *
Syria 2012
Ukraine 2014 *
China already knew, so rest assured many will think of alternatives to replace US dollars
This is not new. Since 2002, China has been slowly building an alternative to Swift and de-dollar.
Any alternative international system should never be politicised, nor weaponised.
You should write to the US and remind them. No need to state the obvious to us.
@@jameslum8822 I am just giving my opinion, like you are giving yours.
@@bonnienadinenewman Thank you for your kind words
That's the promise when U.S.A persuaded other countries to use dollar in international trades, but hell, U.S.A is such a shameless cock, never keep its promise.
Another great intellectual observer and he has a good point here. Totally respect ✊ sir
This kind of weapon you should use very careful. Otherwise, no one wants put money into dollars and dollars will lose its power eventually, such as freezing Afghanistan’s money.
Prof kishore, a gift to asia and the world.
Dollar is essentially a vote of confidence in American economy and plus the fact oil is traded in dollar. The only way for China to displace dollar is to grow economy and most importantly to displace US position on top of the technology value chain.
Deceit should be called deceit not weapon_ sorcerers surfing on the thin air!
Also, let's call it dollar mindset, not just dollar. It's the mindset which is detrimental, be it yen or rial, or euro it would be all the same. As long as usurious banking system is the foundation of the finances and economy, peole would suffer.
YES! Finally someone understand it. Fucking USD based fiat money must be demolished.
They are already laying the pipelines for whichever currency they use. The digital rmb project is more than just the trials at surface level.
Absolutely right. Totally agree, Kishore.
Asians & the World must GET OUT FROM USD ASAP..
And the use of the USD and the Western dominated international financial system in this manner against Russia will also be the impetus for its dismantling. Which main would want to be held ransom to such a system?
This is why RMB internationalisation is a must for China.
You guys are overestimated the effects of US dollar on Russia even if it does it’s temporary
USD impact is less today on Russia because of its strong economic tie with China. Its commodity export to the world is also more diversified with alternative payment. This Russian speaking Canadian businessman, Marin Katusa, has deep insights on Russia:
th-cam.com/video/FwXIWWSUAPs/w-d-xo.html
Good 👍
When all the bottom lines were broken, it also means the end of that game.
The question I ask myself is will China unilaterally withdraw from the swift messaging system once they have their alternative functioning. What effect will this have on the dollar?
Kishore, u forgot 2 mention US illegal move to freeze Russian Central Bank assets under sovereign immunity.
Some Chinese friends are showing concern , many may take money out of Singapore and move them back to Chinese banks in HK
Most important is telling Australia to move to north America or Europe.
Singapore, being a leading voice of ASEAN, should not be silent by taking a stand of saying "balancing power". Hell, it's your neighborhood with outsiders intruding your peace with the help of Australia, beside the usual lapdogs. Surely, you need to take a stand and forewarn a country like Australia which hasn't simulated itself into the eastern culture but always takes on a "superior attitude" of the West.
What about Russia? Once Ukraine is settled, assuming it takes awhile, does Russia go back to doing business with the West or are those days over?
No, its not just the USD. You are in for surprises Prof.
".. USD... damage Russia Dramatically..."
A decade ago, Yes, Russia will be in big financial troubles if US imposed USD sanction on Russia.
However, the situation has changed. China could manufacture almost anything that the world needs ( except 7nm semiconductors, commercial aircraft turbofan engines , Western medicine ).
Russia could export energy (oils and natural gas) to China, in exchange for all the goods they need.
USD sanction on Russia has little effect on the daily life of the Russian because of China.
The world will eventually wake up to reliaze that America technology, products and services (SWIFT, USD) are not reliable.
Why ?
Because you never know when they will sanction you for using US technology and services and USD.
Never buy American products or use US services if you have other alternatives.
@@narmortein537 👏👍💪
@@narmortein537 I suggest RS J read your comment too because he's a pathetic soul.
Great clarity
Not just US$. But western systems like SWIFT, techs, social networks etc
He promoted his books sales and he has predetermined the promotion.
Ok Summit Bhattacharya •
Very entrepreneurial
So by your logic he timed his book launched after having direct access to the Kremlin? LOL 🤣
He is not making living on selling books…..😂……he is way beyond your imagination……
Asia is watching not only China, even the little countries
Perhaps we can return to stone age of BARTERING INSTEAD
If a solution can be found, how do you think money laundering can be negated or neutralized?
Excellent
Go Kishore Go, spread your wisdom! 👏🏻
What a talk, China has already known the answer but cannot apply NOW!!!!!!!!!!!!!!!!!!!! Mr.Kishore M, you are good others are better?
No.. Mark my words now all sovereign countries including America allies will diversify their financial holdings in order to protect themselves 🙌🙌💪🙏
It's not possible today, how do you know it's not possible today?
Common international currency (CIC) can be started by all like minded countries but which is not the currency of any one country. No one can decide, how to give value to this new CIC but to start with all can take present dollar value itself as starting value because so far currency valuation happening with it, to avoid Problem of deciding value of currency then this CIC is not under anyone country influence.
I would think even US allies are also slowly working their plan in the quiet. For a country whose only consideration is national interest and America first, today friends can become tomorrow enemy. Yesterday enemy are today allied. No harm to be prepared for any eventuality. Remember? To be US friend is fatal.
Professor,
People like to use the
Word.. "Dollar"..
Replace.. US.. Paper.. Dollars
By... Chinese... Dollar...Empowerd.. By.. A. I
I'm No Economic Expert, but how is it US the World's Richest Country , when
1.1) It had been running a Trade Deficit for 46 yrs since 1976,
1.2) US National Debt
First 216 years 5 Trillion.
+8 Years (2008)10 Trillion
+8 Years (2016) 20 Trillion
+5 Years (2021) 30 Trillion.
and They Just Keep Printing More USD whenever they're In Trouble.
Sounds to Me They're Continuing with Their Rich Lifestyle While the Rest of the World Pays for It, as long as USD is the Default Currency.
It is not some inherent strength of the dollar but the strength and size of the US economy that the economic actors accept dollar as the means of payment and standard of measuring value. It is the acceptance and trust in a means of payment that upholds a certain monetary system. When another country's economy becomes comparable or larger, that country's papers (acting as money) would automatically become more appealing than dollar as means of measuring and storing wealth. Everyone knows China's economy is moving in that direction, so why should China additionally expend mental resources on worrying about the dollar as weapon. Of course there are non-economic actions that US takes to keep that trust in dollar going, but only because its economy is of a certain magnitude compared to other world economies that it can take those non-economic actions. When that magnitude loses its relative edge, the non-economic actions would also stop producing the intended result.
No country, including India, hoping to grow the relative magnitude of its economy would be unnecessarily occupied with the competitors currency, but with the effective organisation of production, technological advances, increasing productivity, increasing actual per-capita income and consumption, and relative production of value and wealth as a whole.
China will active know his all exchange media in faster way - cips, union pay, digital yuan etc. He has all alternative to American system.
Wow interesting
In a way the US is polarising the world and turning global village into a regional
It's the time for everyone to move away from the dependence and dictating from these Western countries. These colonial mindset is still so obvious.
US dollar is important when there is GREED. if people just want to live simply, you don't need the dollar.
Emphasis on an established valued exchange medium when officially denied access, does not do away with the want of the goods.
Hence, a short term hiccup is expected, but buyers will circumvent the obstacles to get to the goods.
As such, US$ is denying itself out of these markets.
Present sentiments regarding an increasing mismanagemt of the US$, decreasing confidences, and a growing need to protect against losses from a sudden US$ crash, such US actions accelerates world actions to find the alternatives.
Time to go back in Bretton Woods system
I subscribe! I approved!
Nothing is impossible for China anything you can do the5 can do better is all about time
it is time to start decentralizing from USD
Countries around the world starting trade with bilateral trade own currency. Can do that as long commitment with bilateral relationship trade.
Worse come to worse back to the stone age of BARTERING
There already hv a digital currency it can just convert to the opposite currency directly n goods flows
But US can't sanction chaina in any situation because if if chaina been sanctioned then US and their ally don't have anything to live with because 80% products in Europe markets are chainese made, Chaina is second largest economy in the world and if it sanctioned that means Global economy in very long-term depression.
Russia: ok, anyone want to buy titanium, neon gas, fertiliser, wheat, barley, gas, oil etc from us , pay in rubles..🤣 🤣 🤣
that's why there is digital yuan, where it can bypass traditional banking system
e-CNY is just digital yuan. Of course it has added benefits to the cash yuan but they are one and the same thing. China is just rying to transition to e-CNY as it is the wave of the future. Beside, nobody uses yuan cash anymore in China.
@@rap3208 If the system in place, you can transfer digital yuan from anyweher to every where from your smartphone, bypassing banking system.
China has already developed CIPS but the volume is low.
I think Kishore is about 3 years late
China has been watching very carefully for decades now 😂 Reserve currency status is a 2 edge sword.
Harry even more powerful weapon: FEAR.
Sample save money and money will save u
100% right
After hearing this I begin to wonder what will happen to Temasek Holdings when the current PM Mr. Lee steps down leaving behind such a vast sovereign funds, will it be mismanaged like its neighbor M’sia 1MDB! For human by nature is corrupt & greedy. Choosing the next capable & reliable S’pore PM is a real big issue. Not an easy task I would say but interesting to know what have you, Kishore Mahbubani to say on this. It’s all about money too.
if ..but..on the other hand...even god don;t know... ukraine war ???... nobody
40 k to 1 Bitcoin I wonder whos the ones holding it
Back their currency with the Gold they have......20,000 Ton? or more??????
RMB might not be view as a strong candidate for currency reserve. China's expansion of it's trade around the globe will continue to weaken USD dominance. And US internal issues are working against it at the same time. Our trade deficit, lower employment numbers, inflation, monetary policies, education...too many to name.
If we want the dominance we once had , we need to first realize that we are in decline. I think many of us are just too proud to recognize it.
Another thing to consider, economical sanctions works well when targeting small economies, but won't work quite the same when dealing with larger economies. So as China grows its trade around the globe, USD will start to lose it's grip.
The US can frozen china's dollars, but who else got the money to buy US bonds. Money alway talk. And china got plenty..
USA debts currently at 30T it be 60T n more ....
which is why China has created the digital currency
What if we can switch to a bitcoin world? US currency or any world cutrency will no longer be relevant. Time for a change.
India wants to trade with china on the basis of rupee and yuan .Chinese didn't respond favourably.
Can use SGD or not ?😅
bitcoin?
Geoeconomics!
I hope Putin will ship nuclear missiles to Cuba when things are settled. USA must get a taste of its own medicine.
Bitcoin?
China has developed a cryptocurrency. We have to wait to see how it works.
At current times if u hv 1usd u be the holder of their debts . (It a toilet paper