I think there has been a lot of projection that if the US wants to decouple from China, then China would wish the same too.
If you look carefully at all of China’s readouts, there has been no indication whatsoever that China is going to establish an alternative economic and financial framework. If anything, China has accused the US and Trump of protectionism and violating the sanctity of free market.
It is very clear that China is the one trying to save the marriage here, by convincing the US that it is still not too late to turn back to where things were. This is why China played the rare earth export card, to tell the US that it cannot simply walk out the door without consequences. In the end, they need each other to thrive. That’s the message sent.
Of course, just because one side is trying to save the marriage, doesn’t mean it won’t protect itself against further domestic (international) violence. And unfortunately many abusive relationships can go on for years and years despite the constant toxicity and hostility.
I think there has been a lot of projection that if the US wants to decouple from China, then China would wish the same too.
I agree with this.
If you look carefully at all of China’s readouts, there has been no indication whatsoever that China is going to establish an alternative economic and financial framework.
I doubt the present Chinese leadership has as radical of a leadership as commentators often believe them to have, but the sheer size of the Chinese market and industrial base means that even simply trying to integrate themselves into the world economy to an ever greater degree creates an economic alternative.
Furthermore, in regards to finances, sooner or later, the sheer and continous erraticness of the imperial core will force even the most liberal of Chinese leaders to create a financial alternative even if for no reason other than to protect the market economy.
doesn’t mean it won’t protect itself against further domestic (international) violence.
I think there has been a lot of projection that if the US wants to decouple from China, then China would wish the same too.
If you look carefully at all of China’s readouts, there has been no indication whatsoever that China is going to establish an alternative economic and financial framework. If anything, China has accused the US and Trump of protectionism and violating the sanctity of free market.
It is very clear that China is the one trying to save the marriage here, by convincing the US that it is still not too late to turn back to where things were. This is why China played the rare earth export card, to tell the US that it cannot simply walk out the door without consequences. In the end, they need each other to thrive. That’s the message sent.
Of course, just because one side is trying to save the marriage, doesn’t mean it won’t protect itself against further domestic (international) violence. And unfortunately many abusive relationships can go on for years and years despite the constant toxicity and hostility.
I agree with this.
I doubt the present Chinese leadership has as radical of a leadership as commentators often believe them to have, but the sheer size of the Chinese market and industrial base means that even simply trying to integrate themselves into the world economy to an ever greater degree creates an economic alternative.
Furthermore, in regards to finances, sooner or later, the sheer and continous erraticness of the imperial core will force even the most liberal of Chinese leaders to create a financial alternative even if for no reason other than to protect the market economy.
True.