Even with the Biden Administration bumbling their way through foreign policy, the world still watches what Washington does and reacts.
Take the nation of China, which has been threatening to invade Taiwan for years. After the Biden camp slapped pretty harsh sanctions on Russia for invading Ukraine, the Chinese are considering their options to keep foreign money afloat.
China’s regulators held an emergency meeting between officials from China’s central bank, the Ministry of Finance, domestic banks operating in China, and international lenders such as HSBC on April 22.
The West’s tough economic sanctions against Russia prompted the emergency meeting, at which the Treasury said President Xi’s government had been put on high alert by the surprise dollar freeze…
The US is believed to be considering appropriate sanctions against China if it invades Taiwan, envisioning a scenario similar to that in Ukraine.
Russia has frozen about $630 billion through foreign sanctions, a buffer fund designed to help prop up the ruble’s value.
But Russia is only the seventh-largest holder of foreign exchange reserves in the world, making it less vulnerable to such sanctions than countries that rely more on the international system.
According to the IMF, China is the world’s largest owner by treaty, with a whopping $3.2 trillion in foreign exchange reserves.
After its economic miracle that made China the second-largest country in the world, China sustained its growth by increasing exports to the rest of the world.
Of course, much of this is done in complete violation of copyright and intellectual property laws in many nations, but that does not bother the Chinese.
They are more interested in world domination via finance, and nothing is going to stop them. Certainly not the United States via sanctions when the Chinese do pull the trigger and make a move on Taiwan.
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