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Spider_Plant's avatar

“ It should avoid making long-term bets on any single leader and instead build interest-based arrangements that can survive repeated changes of government” This still assumes the UK is a rational actor which I think is a flaw in this logic. Before the Ukraine war I wrongly assumed Germany would take a hard stance toward Russia because Germany wouldn’t want to risk access to cheap Russia gas. This was a wrong assumption and I think similar assumptions are being made about dealing with the UK.

Molly Meldrum's avatar

China is in pole position. Playing the long game. The City of London bankers, financiers, and OFCs are all panicking. Large withdrawals are being denied, or capped. New limits on remittances as Gulf despots start liquidating their sovereign wealth funds. US treasuries no longer a safe haven. All the Chinese need to do is keep playing the long game, and remain patient. We are seeing a replay of the 1956 Suez Crisis, when the US destroyed the Sterling Pound. Now it is the slow motion decline of US hegemony, and US financial system.

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