Biden's soaring sanctions declaration claims to be a fatal blow to Russia! America's allies have followed suit, but all this seems to be doing useless work! Why? Because Biden's ambitions may be in vain! The sword of economic sanctions seems to have been blunted! They never imagined that this world was no longer a stage for them to dance alone!
In this era of globalization, the United States once dominated everything in the world by virtue of its hegemonic position. The U.S. dollar has become the world's transaction currency, and the SWIFT system is like a big net, firmly holding the global financial ties in the hands of the United States. This system allows the United States to go on a rampage on the world stage, confront competitors, and do whatever it wants!
However, times are changing, and the world is changing! With the rise of emerging economies, the hegemony of the West is in jeopardy. The abuse of sanctions by the United States has aroused the vigilance of more and more countries. In order to get rid of US sanctions, countries began to look for a new way out. The rise of the euro and the wave of "de-dollarization" of emerging countries are gradually changing the world's financial landscape!
Russia, as a "thorn in the side" in the eyes of the United States, has long seen through the US scheme. After 12 rounds of sanctions launched by the United States, Russia has basically said goodbye to dollar trading! What caught the United States off guard even more was that Russia's cooperation with China was getting closer and closer, and China's manufacturing base could meet almost all of Russia's needs, which made the so-called "** embargo" meaningless!
With the changes in the international situation, more and more countries have begun to get rid of their dependence on the dollar and refuse to be held hostage by the hegemony of the United States. These countries have circumvented US sanctions through local currency transactions, finding new partners, and even smuggling! The hegemony of the United States is being destroyed little by little!
Today, countries around the world are full of fear and concern about the sanctions methods of the United States. No one knows whether the United States will one day use these means on itself! More and more people are abandoning the use of the dollar, and the US sanctions against Russia, on the contrary, are destroying the foundation they have laid for many years! What an ironic situation!
Therefore, Biden's sanctions may be holding a sword that has lost its sharpness! The world is no longer what they imagined it to be! A new world is rising, and the United States, may be on the verge of decline!