Iran Press/ Asia: On the contrary, the talks increased alienation. Biden warned that China could face damage if it moved to help Russia mitigate the impact of Western sanctions. Having rejected Washington’s demands, Beijing seeks to avoid US sanctions and, at the same time, become the chief beneficiary of the global economic war, Kommersant writes.
"Beijing and Washington focused on different things in terms of talks between the US and Chinese leaders. For China, the conversation was primarily about the need for the United States to refrain from interfering in the Taiwan issue and using the policy of sanctions against other countries," Director of Moscow State University’s Institute of Asian and African Studies Alexey Maslov explained.
When asked what extreme measures Washington could take, the expert said: "The US can cancel its foregin debts by declaring a default on incoming and outgoing dollar payments, while the Federal Reserve System can also change the design of dollar bills, freezing dollar accounts in other banks and refusing to accept them. As a softer option, the US could refuse to accept such payments from Russia or China, which would lead to a partial or total ‘economic apocalypse.’ However, China will start dumping its debt at the first sign of such negative actions, which will cause great panic on markets, and will also refuse to issue dollar loans," Maslov added.
According to the expert, even the attractive US market would not be able to offset the national humiliation that China would face if it is forced to make concessions under US pressure. Moreover, China is making it clear that the conflict around Ukraine is not just a problem between Moscow and Kyiv but an issue concerning the collapse of the global system, which needs to be addressed urgently.
214
Read More:
US, China officials to meet as tensions mount over Russia
