There is a lot of talk about a potential decoupling from China with the U.S. and a growing number of countries that might be looking to drop the US dollar for trade. Yellen recently gave a speach and suggested that this would be a disaster if this were to occur. The policies, Yellen suggested, stem from national security concerns too and said that the U.S. would not compromise on those concerns.
There is still worry about military activities escalating depending on how things go in Ukraine with Russia, will other countries step up to get further involved? This will come at a great cost to people around the world who overwhelmingly don't want to see things worsen. Billions are already struggling just to get by and they don't need to start worrying about a world war making things even more difficult and uncertain for them. Who would benefit from such a situation? If leaders cannot find a way to navigate away from that possibility then perhaps they aren't the best options for leading in the first place, are they? Will the people get any say or are they just going to be dragged along into the nonsense?
Can we see why some countries might look to distance from the U.S. dollar and diversify so that they don't need to worry as much about sanctions and how that could impact their countries and life for the people living there?
Yellen suggested that the U.S. and China need to find a way to live together for the sake of stability around the world. How much has the U.S. worried about 'stability' for other countries like Iraq, Syria, and Afghanistan for example though, when it comes to their questionable and arguably morally bankrupt foreign policy that they've exercised over the last few decades? They say they are seeking a healthy relationship that fosters growth and innovation and it seems that engaging in a peaceful manner, respecting the sovereignty of all actors, would be the best policy that could benefit the most people.
pics:
pixabay
sources:
https://www.nbcnews.com/news/world/janet-yellen-us-china-economy-speech-rcna80787
https://www.forbes.com/sites/russellflannery/2023/04/20/us-treasury-secretary-janet-yellen-seeks-cooperation-airs-complaints-in-major-speech-on-china/?sh=1ed33ead5326
