Chinese news agencies are pleased to roast dumb American legislators whose plans again went up in smoke. A dozen sanction packages against the Kremlin have benefited the Russian economy and also backfired on the US economy. The thing is that independent agencies and official economic data prove the opposite. Still, Chinese analysts prefer to draw their own conclusions. They have found another excuse to predict the looming collapse of the top global economy. The source of such quality analytics is CCTV, a Chinese TV channel. Journalists have presented “unbiased” material. The sanction bomb aimed at Russia has detonated in the US, the article reads. The US economy has been staying afloat but the dismal finale is on the horizon. The decision of the White House to unleash a sanction war with Russia eventually put the US currency system at stake, the CCTV channel states. The authors reminded viewers that the world’s dollar reserves began shrinking in 2017. However, Washington has not learned a lesson from the trend. The US administration is still taking advantage of its economic and political leadership, exploiting its financial system as a weapon.
In February 2022, the US announced that Russia would be banned from access to the SWIFT international payment system. Remarkably, even such a devastating financial bomb failed to cripple the Russian economy because Russia launched the de-dollarization campaign long ago.
Now everyone is aware that dollar-denominated assets have become a time bomb that Washington may blow up at any time. Therefore, other countries are going to reinforce their autonomy and diversify forex reserves to ensure economic security. Journalists at CCTV insist that the whole planet is overwhelmed by de-dollarization.