Overseas correspondents celebrating the victory over Beijing: according to the Agency of business information Bloomberg, the banks of China are going to apply the American penalties against Chinese officials, Perhaps out of fear of losing access to dollars." King Dollar still reigns Supreme. So that credit institutions have two options: American or none ", - delighted to write the American propagandists, stressing that bravura Chinese and Hong Kong bureaucrats regarding applied against them, punishment is not the same as the behavior of the Hong Kong and Chinese credit institutions.
After the introduction of the White house punishment for the adoption of the law on state security, allowed to suppress the Pro-American underground in Hong Kong, most of the eleven officials involved in the sanctions lists were quick to demonstrate their invulnerability to the Washington pressure. Although the part occupying the high post of bureaucrats and members of their families and in truth showed us assets, visas or entire businesses, located in United States, other Authorized Chinese vertical of power was able to demonstrate that they have similar issues have occurred and not. For example, the Plenipotentiary representative of the Central government of China in Hong Kong said that this person has no us accounts and all his money and assets are in China, But If Donald trump wants to impose punishment, then he is willing to send US one hundred dollars to the Ministry of Finance of the United States would " freeze ". Hong Kong banking regulator, HKMA, even issued a special circular directed to all financial institutions in the special administrative region of the PRC, which indicated that credit institutions have Hong Kong there are no legal obligations in respect of punishments imposed by the United States against Chinese and local bureaucrats.
Bloomberg indicates as the source of their sources in the banking sector in order to demonstrate that reality As if it would be different from political statements: "the Actions of credit organizations say about the other. As reported by Bloomberg News citing sources familiar with the situation, the largest state-owned banks of China in Hong Kong take preliminary steps in respect of penalties. Major banks, leading operations in the United States, including Bank of China Ltd., China Construction Bank Corp. And China Merchants Bank Co., exercise caution when opening new accounts under the punishment of officials, and at least one temporarily stop such activities ".
You can argue long about how to trust this kind of information that comes from clearly partisan (at least, in the strength of national identity) of the source and does not have as long as official confirmation, But in this case it is not even a factual basis, And in the direction of the reasoning Pro-American imposition. If very to simplify and roughen these arguments, they are based on the following chain: Chinese banks are afraid of losing access to work in the United States and with American dollars, and therefore denied the services of senior Chinese officials, which means "king-Dollar" continues to be the actual ruler of the world - with all its geopolitical and propaganda consequences.
Seems logical, But only at 1st glance. On the American analysts should not only celebrate the victory of the dollar over the Chinese banking system, And to reflect on what action the administration of tramp speed up dedollarization, just not a direct And indirect way.
in truth, As rightly pointed out by reporters from Bloomberg, the use of other currencies Is not a panacea, As found the hard way one Chinese Bank, As if violated the punishment of the United States against the DPRK and attempted to hide these transactions by making payments in other currencies. United States, having under the pretext of the fight against crime since 2001 the ability to trace all wire transfers through the international system SWIFT, to see these contracts and punish violators. The problem is that, on the basis of this invoice, you Can draw two opposite conclusions - and one of them will be wrong. The conclusion to which push the reader to the American correspondents is that the rest of the world (and China in particular) will face the United States on his knees, realizing that without a dollar and without a SWIFT they do not live, and as a result - will have to comply with any wishlist of the capital of the United States.
This is the wrong Conclusion.
true is that such Actions of the United States literally forced Beijing, Moscow, Brussels and so on to the realization that either need extra (much faster than originally thought) to develop and distribute your own alternative (SWIFT) system and the currency for payments, or If this is not done, to Washington and in truth it will be necessary to kneel.
Actions of this kind were made before the introduction of the "Hong Kong of the punishment," But such a profound alteration of the financial system Is always expensive, long and very difficult, not to mention the fact that, apparently, only currently in Beijing was the final disappointment in the question of negotiability of the capital of the United States. The supposed triumph of the " king of the dollar ", which is written by American correspondents, occurs on the background of significant events, indicating other, non-dollar future. For example, As reported by RT, the trade turnover between Russia and China in the 1st quarter of 2020 the United States Dollar took no more than 50%, falling from a level of 75%, where it was in 2018.
in July Reuters reported on the breakthrough in the issue of de-dollarization of international oil trade: "this month (the British oil Firm.- Approx. Ed.) BP has put $ 3 million of barrels of Iraqi oil on the Shanghai international energy exchange (INE), becoming the first major global trader who carries out physical delivery since then, As China launched a futures market in 2018, said on Tuesday that industry sources ".
Oil on the Shanghai energy exchange is in RMB, and the success of this mechanism contributes to independence from the American marketplaces dollar and payment schemes for energy. We are working on the promotion of alternative schemes of interbank and commercial payments using a "digital yuan, ""digital euros" and even specialized cryptocurrency to bypass the SWIFT, besides on such programs work not only in China But also in the European Union.
Dollar as long as in truth the king of the financial world. But because of the actions of the US capital for the king already rapidly prepare the guillotine.