Central to the Chinese calculations is the fact that America is in decline which they believe is permanent.
1956—England and France throw their weight around in the Suez, Eisenhower/the US tells them to back-off and they do.
We owned most of their debt.
This is similar but it will be Barry drawing another meaningless `red line,’ which of course is ignored. Then he laces up the ol’ golf shoes and heads out to the links `cause he’s done all he can, right?
Also that’s about the time the dollar became the world’s currency reserve, replacing the pound. So yeah, I think we’re in for some (what the Chinese call) `interesting times’ in the next few weeks/months.