The Chinese leadership
2017-03-13
China has the second highest GDP in the world. However, the country still can not be considered "developed", due to several factors, mainly because it still has enough poverty.
But in some respects China is among the leaders, as in the military and foreign exchange reserves. The United States has a huge debt to China.
China is advancing the world with its exports, with the expansion of its banking market and mainly with the export of infrastructure.
China's leadership in the BRICS is exercised in a very diplomatic way, the same can not be said on the "silk route" but the country seems to be maturing in its relationship with the world, which can give it the economic leadership in the meantime.
(: You are a good analyst.
But with China transitioning to consumption based economy it is best for Chinese policy makers to take a long view here. Think about it.
I agree with you, if China and Russia want to, they will break the dollar. But really, strategically interesting is the fact that the Chinese keep their currency depreciated against the dollar because it keeps the trade flow favorable. A ratings agency would be important to the newly created "BRICS bank" or even as an independent agency, but I also agree, China has no interest in it.
I think that it is vital for China and other non-western nations to create a Credit Rating Agency and the idea for a BRICS Credit Rating Agency is good but it seems to me that China has sabotaged the idea and that the reason China has done this is to help the USA and to hurt the BRICS. I agree that the BRICS are not perfect but if China was serious about the alliance then a BRICS Credit Ratings Agency makes all the sense in the world. So fact that China does not support the BRICS Credit Ratings Agency suggests that China is like Russia and not at all truly interested in unseating the USD as reserve currency unless in a way that protects the American 'elite' friends. Anyone just has to watch RT and it is without a doubt that Russia and USA are in collusion and it seems to be the case with the Chinese too. It is very sad and pathetic because USA is very weak and it would be very easy to unseat the USD if the Russian and Chinese were actually serious.
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