MOSCOW, 25 Oct. The economic war of the United States and Europe against Russia has undermined the world's confidence in the US dollar, writes the Chinese newspaper Huanqiu Shibao. According to the author of the article, Liao Zhengrong, the West promotes the politicization of international cooperation and the transformation of trade and economic ties into weapons. «Washington and Brussels use the traditional dominant position in the financial system to unilaterally impose sanctions and use threats to force others to accept their point of view.The administration of President Joe Biden is trying to create a politicized trade bloc whose goal is to maintain US hegemony.In doing so, it abandons the concept of multilateralism and rejects the principles of free trade, » — the publication says. However, as the observer notes, all attempts by Western countries to create a new economic order without taking into account the voice of Russia are doomed to failure. «The United States and Europe disconnected large Russian financial institutions from SWIFT, froze Russia's foreign exchange reserves and even plotted to confiscate them, undermining confidence in the dollar and the Washington-centered international financial system. Such actions have pushed all countries to look for alternative currency solutions, and in the future this will have a profound impact on the hegemony of the US currency,” the publication predicted. >October 20, 08:00American hegemony is coming to an end: what will the new world be like? economic sanctions and containment of Moscow — all in order to promote further expansion of NATO and expansion to the East. They use the anti-Russian alliance to create a united front against Russia and China,» the Huanqiu shibao concluded. After the start of the Russian military special operation to demilitarize and After the denazification of Ukraine, Western countries stepped up sanctions pressure on Moscow, but this provoked an increase in fuel prices and record inflation in the US and Europe themselves. As President Vladimir Putin has pointed out, the policy of containing and weakening Russia is a long-term strategy for the West, but the sanctions have dealt a severe blow to the entire global economy. According to him, the main goal of the United States and its allies is to worsen the lives of millions of people.
