There’s more at risk than economic consequences, which is why it’s recommended to read JR Nyquist’s ‘One Clenched Fist‘ article.
The United States is making a “fatal mistake” by antagonizing both China and Russia and forcing the two primary opponents closer together, says Duowei News, a US-based Chinese political news website.
Washington turned against Moscow following the start of the Ukraine crisis in February this year, leading the European Union and Japan in imposing heavy sanctions against Russia. The increasing distrust between the two countries has been apparent, with Russian president Vladimir Putin and US president Barack Obama coming into contact for only 20-30 minutes during the Asia-Pacific Economic Cooperation (APEC) leaders summit in Beijing last week, with neither leader having much to say to the other.
America’s relations with China have also been strained. Beijing remains wary of Washington’s “return to Asia” strategy, which Beijing views as a means to control China’s rising power and influence. With the US unable to counter China’s rising economic power, Washington has turned to geopolitical measures, backing Japan and strengthening ties with the Philippines while also trying to entice Vietnam and India — all countries embroiled in territorial disputes with China. Beijing has not backed down, unilaterally announcing an air defense identification zone in the East China Sea that covers islands disputed with Japan last November.
The dynamic between the US, China and Russia has been compared by Duowei to that depicted in the Romance of the Three Kingdoms, the classic Chinese historical novel about the three warring states of Cao Wei, Shu Han and Eastern Wu set between the years 169 and 280 CE. The central theory in the novel is that the three states represented a delicate balance of power and that any state daring to disrupt that balance would risk the other two teaming up against it.
The US, China and Russia were arguably in a similar balance but now Beijing and Moscow are growing closer together due to Washington’s bold move to disrupt it, Duowei said.
To bridge the gap, Russia has had to turn to China. The countries’ respective central banks signed a deal last month valued at 150 billion yuan (US$24.4 billion) and also added measures to make cross-border direct investment easier. During the APEC summit the two sides also signed a series of trade and financing deals nearing US$10 billion in value
In addition to continuing joint military drills, China and Russia have also inked cooperation agreements on many fronts such as manufacturing, transport and finance. Chinese companies have been allowed to enter Russia’s financial markets on a large scale; there have been talks of building a high speed rail network between Moscow and Beijing; and several major energy deals have made significant progress.
Further, Xi announced recently that China would contribute US$40 billion to a new Silk Road Fund, designed to improve trade and transport links in Asia.
If this trend continues, it is clear that the US will end up in a “nightmare” scenario where it must face two formidable foes at the same time while finding itself increasingly marginalized in Asia, Duowei said.
Full article: US makes ‘fatal mistake’ driving China and Russia closer: Duowei (Want China Times)