China is wise to seek the counsel of Wall Street in regards to the economic battle against the US. On the surface it is a trade war, but this is just a strategy to manage "strong dollar policy". In the end, it is always about the currencies and the advantage the dollar enables by virtue of being the currency that all other major currencies are referenced to for value.ma·te·ri·al·ismməˈtirēəˌlizəm/noun
Wall Street owes no allegiance to (99% of) the American people, but must nurture its partnership with the US Government (whose allegiances are exactly aligned) in order to protect its own material interests. If Wall Street could rape China, as the Clinton / Summers axis raped Russia in the 90's, it would. But that card has already been played. I'm sure that Goldman can come up with something creative, as it did with Greece. But China will be quite wary of the Atlantic's most notorious octopus.
As materialism and consumerism has grown through the massive indoctrination of corporatist propaganda and advertising (controlled and distributed all over the world) the spread of materialism is synonymous with the rise of globalism. It is a celebration of self interest over and above the interests of the tribe.
The 1% have proven that powerful self interest can be concentrated into a tiny tribe - and yet certain factions among them are divided, proving that only when conditions warrant, factions align. That most powerful symbol of materialism which binds them is the US dollar. It is a currency that truly defines today's foreign exchange market mechanism, creating havoc among national economies which defy its political will.
The many currency crises affecting EMs and other defiers of the Dollar Empire could be averted (and will be in years to come) if and when a more equitable international monetary and financial system is operational, and working smoothly.
It is quite easy to visualize an FX market which does not include the US dollar. One can easily imagine a world where the US is isolated from international trade (America First as America Only). There is nothing produced by the USA which the rest of the world cannot live without, and likewise the USA is not an indispensable customer - it's demand can be easily replaced by legitimate prosperity elsewhere.
What the USA produces is materialism, financialization and it's well oiled, dependably functioning US Dollar system. The "globalism" it produced is it's own "dollar brand" as is its dollar brand of global financialization and commerce. As you look at the competing systems, and tally up the real statistics, you realize that it cannot survive its imposition on the world.
Yes, you will read the Bloomberg article about how the dollar is weaponized, wondering "why would Bloomberg of all sources admit the truth here?" only to realize that the article is more about how effective and durable that weapon is, rather than its moral implication. That judgement is reserved as just a unimportant detail.
We really have come full circle, from a time when the truth was hidden behind a veil of virtue, to a time when materialism and self interest allows the veil to be slowly removed. This is the populist, nationalist, sovereignist movement which defines "Trumpism". In true trickle down fashion you will come to understand that what is good for the 1% is good for those who fight over their crumbs. Or so you are told.
You will see the truth about the energy interests of the faction that keeps your bread below $3.00 per loaf because they want to pay less taxes on all their mansions. And it will be put to you as, "who gives a damn about the masquerade in Syria?"
And in the end you will decide ... is this how we want the world to be? Or maybe the world will begin to change before that question really comes to bear. It is changing already, with more to come. Social media has taught us a lot about our addictions to materialism and the power of image over substance.
And millenials are deleting the app in record numbers. A new Messiah awaits.
The people will always give the "power of good" a chance. And like the USA, the power given is always corrupted. Materialism is at the core of this, and the US Dollar is just its latest mascot. The little people can rage, but they're still just rats in a cage.