The Hegemonic Domination of US ImperialismLeave a comment
29/08/2018 by socialistfight
For International Perspectives
Why neither Russia nor China are imperialist powers
By Gerry Downing 29-12-2017
- The US Dollar is by far the world’s leading reserve and trading currency for oil and almost every other commodity in the world (although Russia and China are challenging that now). It gives the US an enormous economic and political advantage over its rivals. Wars against Iraq, Libya, and Ukraine today are at least partially launched to protect this privileged position which enables it to rob every other nation. In the aftermath of the 2008 financial crisis, the dollar’s share in the world’s foreign-exchange trades rose slightly from 85% in 2010 to 87% in 2013. The dollar’s role as the undisputed reserve currency of the world allows the United States to impose unilateral sanctions against actions performed between other countries.
On 1 May 2015 U.S. District Judge Lorna Schofield in Manhattan formally ordered the French bank BNP Paribas…
View original post 1,660 more words