Gaode Sheng: The United States Western restrictions will weaken its hegemony forces

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Gaode Sheng: The United States Western restrictions will weaken its hegemony forces

2022-05-11 12:09:07 16 ℃

After the outbreak of the Russian and Ukraine conflict, the United States and Europe launched the extreme economy and financial sanctions against Russia, cut off Russia's foreign financial contact, freezing to freeze Russia's overseas assets, intended to beolate Russia outside the global financial and trading system, completely destroying the Russian economy. The limit of the United States and Europe has caused a plunge in Russia, and the domestic financial market is turbulent. Some people think that Russia cannot carry Western sanctions, and the economy will inevitably suffer a disaster.

The US "Foreign Affairs" published in March, "The price of the Economic War -how to influence the global order on Russia's sanctions", pointing out that the West is accustomed to imposing sanctions on small countries at a low price, but a economic country that is closely connected with the world, but Experience and understanding are very limited. The West tried to isolate an G20 economy with large oil and gas resources, complex military complexes, and diversified exports. The consequences of sanctions on Russia will be difficult to estimate and may inevitably end in failure.

Faced with the extreme restrictions on the United States and Europe, Russia is not unsatisfactory and passively beaten, but has launched a strong peer.

The first is to use the "ruble" to pay foreign debt. All countries involved in Russia are the objects of "rubles repay" and paid at the Russian official exchange rate. With his own way, he also cured his body, which quickly stabilized the ruble exchange rate. At present, the value of the ruble currency has risen to the level before sanctions. The second is to settle in rubles for natural gas participating in the sanctions. This has a certain deterrent force for the United States and Europe. The EU's oil and gas mainly relied on Russian exports. The third is to list the "unfriendly country and regional list", announce the cancellation of "patent fees" to the country and region, and prohibit export wheat and chemical fertilizer to the countries and regions listed on the list. The fourth is to declare nationalization of US and European companies that try to evacuate, and implement measures such as "accounts and assets, introducing external management, and nationalization of property" on Western companies listed on the blacklist. Fifth, the ban on foreign capital escape. With these measures announced and gradually implemented, Russia reversed passive situations.

These targeted countermeasures show that Russia has fully prepared for US and European sanctions, and has a thorough, systematic response plan and the entire set of counter -restrictions. Since 2014, Russia has suffered more than 100 economic and financial sanctions, and its ability to resist sanctions has continued to increase. It is also expected to be contacted by the western cutting SWIFT.

To this end, Russia planned a series of systematic response to the US dollar: First, it was to reduce the holdings of US debt in international reserves and increase gold reserves. The second is to work hard to use both local currency settlement in foreign trade. The third is to build an international trade payment system designed to replace SWIFT as an alternative to the SWIFT system that is cut off.

Although Russia is not a big economic country, it ranks in the top 14 in the world, and its economic strength cannot be underestimated. In particular, Russia has abundant strategic resources such as oil, natural gas and rare minerals. Energy, minerals, food, etc. can be self -sufficient, which has a pivotal impact on many key industries such as military, aerospace, chips, etc. This is where Russia dares to challenge the existing global economic order led by the United States and the West.

European sanctions with the United States not only did not achieve the purpose of blocking Russian military operations, but have severely impacted the European economy. European energy, food, fertilizer and other important strategic materials have seriously rely on imports from Russia. Sanctions on Russia have caused European rejuvenation, soaring prices, and interruption of supply chain. The possibility of European economy has greatly increased. With tremendous pressure on the economy, the EU countries are difficult to form iron plates for sanctions on Russia due to their own interests. In the future, it will be differentiated within the European Union in sanctions on Russia or in the EU.

Countries outside the United States and Europe, especially large powers, will not succeed in the United States and Europe, follow the sanctions of the United States and Europe, and suspend their normal economic cooperation with Russia. India is importing Russian coal and oil, and the two sides agreed to settle in their respective currencies. The Middle East countries have maintained an independent position, and they do not strive with the United States and the West. Faced with the so -called "consequences" threatening in the face of the United States and the West, China has a clear attitude: resolutely oppose any illegal unilateral sanctions; when relations with Russia, they must not harm the legitimate rights and interests of China and other aspects. China and Russia will continue to carry out normal trade cooperation in the spirit of mutual respect, equality and mutual benefit.

Russia's anti -sanctions defended the country's financial independence and economic security. This proves that the seemingly powerful US Western sanctions hegemony is just a myth. The United States Western also proves that as long as the superstition and fear of Western hegemonic rights, the dare to say no of pride and unfair bullying, courage to resist and struggle. "".

The strong sanctions against Russia this time in the United States and Europe are actually the poverty of Guizhou donkey skills that have won the advantage in the game of great powers through legitimate competition. It just reflects the decline of the United States and Western countries.

Russia has announced the settlement currency of the export of energy and strategic resource exports to the "unfriendly countries and regions" with rubles to pay foreign debt and shakes the US dollar's monopoly position in the global trade and financial system. The arrogance of the United States playing sanctions is forcing more countries to join the ranks of "to the US dollar", and the world will accelerate into the "post -US dollar era". (The author is an independent economist, a senior financial person)