A few days ago, the Chinese Communist Party’s imperial scholar, Zhai Dongsheng, once again exposed the ambitions of the Chinese Communist Party! The Communist Party of China (CPC) is using the epidemic and the “Belt and Road” to promote the internationalization of the RMB, to replace the “dollar hegemony” and to slaughter the countries along the “Belt and Road”. Will this come true?
Although the Chinese Communist Party may not succeed in its ambition, the world’s trend is to block the Chinese Communist Party. The United States, Japan, Australia, India and France will hold a joint meeting in April to counteract the Chinese Communist Party, which is quite like an Asian version of NATO.
In addition, on Wednesday (March 31), the Group of Seven (G7) issued a joint statement, pledging to take collective action to address the “harmful industrial subsidies” and other market-distorting practices of the Chinese Communist Party.
Shanghai takes the lead in Xinjiang? On Wednesday, Shanghai police issued a news release saying that foreigners entering Shanghai for more than 24 hours must register, and that the initiative may be extended nationwide, prompting rebuke.
A well-known Canadian scientist of Chinese descent had shipped a virus to Wuhan, and the Canadian government urged the delivery of all documents. The Office of the U.S. Trade Representative (USTR) released a statement on Wednesday saying that global steel and aluminum overcapacity is the culprit of Chinese Communist policies.
Zhai Dongsheng again exposed the ambitions of the Chinese Communist Party: use the epidemic to harvest “dollar hegemony”
The Chinese Communist Party (CCP)’s official scholar, Zhai Dongsheng, who last year blew the whistle on “old friends” in the United States, recently revealed in a video program the intentions behind Xi Jinping’s “One Belt, One Road” program, pointing out that the CCP not only wants the resources of countries along the route, but also their lives. In the video, Zhai suggested that the CCP should use the epidemic and the Belt and Road to promote the internationalization of the renminbi to replace the “American Dream.
In his video “The Great Opportunity of the RMB,” released on April 1, 2020, Zhai Dongsheng suggests that this is a “once-in-a-century opportunity” and a great opportunity for the RMB – a chance to It is a strategic opportunity for the RMB to “reap the hegemony of the US dollar”.
In February, he declared that in the post-epidemic era, the dollar dream is waking up, and that Chinese government bonds will become the benchmark of global value, and “we [the Chinese Communist Party] are turning into the center of the world. He explained that the pricing currency will be the yuan in the future, and that the CCP will control the pricing benchmark.
In the video, Zhai first analyzed the impact of the epidemic on global financial markets, saying that the Fed’s expansion of its balance sheet (expansion) is equivalent to “printing money to dilute the wealth of the world’s savers,” leaving 7 billion people around the world to pay for U.S. Treasuries.
Zhai Dongsheng believes that this is the dollar hegemony, because the dollar is the global reserve currency, the Federal Reserve has become the world’s central bank, to the world to collect minting tax. However, Zhai Dongsheng said this is actually “a great opportunity for a hundred years of unprecedented change”, which is an opportunity for RMB internationalization.
Zhai Dongsheng proposed that “we can provide a new pool of assets to the world”, such as the issuance of special treasury bonds, part of which is used to provide employment and consumption power to the people in China, and part of which is “to provide yuan liquidity to people around the world who are short of dollars “.
Zhai suggested that “against the backdrop of a worldwide dollar shortage”, “we need to fill the gap”, and “this time we must be very generous and generous to provide liquidity to the world “We will get the internationalization of the yuan” and get the world “deeply tied to the Chinese economy and to our yuan monetary policy”.
In a December 2019 video, “Why the Belt and Road,” Zhai Dongsheng says that whether the CCP can recover its investment in promoting the Belt and Road is not the point; turning the RMB into a pricing currency and gaining pricing power is the real meaning of the Belt and Road.
He argues that the international monetary system was originally a bubble, and whoever has the pricing power will get the most benefit; previously, the US dollar set the price, and the US dollar was the center, while the Belt and Road will change the status of the RMB.
Zhai Dongsheng’s initiative on the yuan represents a mainstream view among Communist Party think tanks. Since 2017, Zhou Xiaochuan, who is known as the “father of RMB internationalization,” has repeatedly called for the promotion of the RMB in the Belt and Road construction.
In February 2021, Ren Zeping, a well-known mainland economist, published an article titled “How the “Arrogant Dollar Hegemony” Shears Wool Around the World”, calling the dollar-dominated international monetary system “dollar hegemony”. According to him, the hegemony of the US dollar is based on the valuation function, deriving from the trade settlement function, and gradually expanding to the investment and financing function, becoming the anchor of global reserves and currency.
According to the data of international financial institutions such as SWIFT, BIS and IMF, the U.S. dollar has always been the top global payment currency, with 95% of international commodities denominated in U.S. dollars, 86.5% of international trade settled in U.S. dollars, and about 85% of all foreign exchange transactions in U.S. dollars; at the same time, the U.S. dollar is also the strongest global financing At the same time, the dollar is also the world’s strongest financing currency, with about half of all cross-border loans and international debt securities denominated in dollars, and 61% of international reserves are dollar-denominated assets; the dollar is also the world’s first anchor currency, with nearly 20% of economies directly anchored to the dollar; the Federal Reserve has also assumed the function of the world’s central bank, and the world is affected by the Fed’s monetary policy.
This international monetary centrality of the U.S. dollar has been called “U.S. dollar hegemony” by some scholars in the Chinese Communist Party system.
Russian Foreign Minister Sergei Lavrov gave an interview to the Chinese Communist Party’s official media CCTV before his visit to China on March 22, in which Lavrov called on China and Russia to reduce the use of the U.S. dollar and promote local currency settlement to reduce the risk of sanctions.
Despite the coveted status of the world’s central currency, individual countries have been trying to promote “de-dollarization” for years. However, due to the comprehensive power of the United States and the institutional characteristics of freedom, democracy and stability, there is no substitute for the central position of the U.S. dollar so far.
This year, the Chinese Communist Party issued the outline of the 14th Five-Year Plan at its two sessions, in which the policy statement of “internationalization of the RMB” was downgraded from “steadily promoting” in the 13th Five-Year Plan to “prudently promoting” in the 14th Five-Year Plan. The policy statement of “internationalization of RMB” has been downgraded from “steadily promote” in the 13th Five-Year Plan to “steadily promote” in the 14th Five-Year Plan.
Current affairs commentator Li Linyi analyzed that the Chinese Communist Party knows very well that it is an impossible task to promote the internationalization of RMB within the system, so it can only cool down and be “steady and cautious”.
Li Linyi pointed out that the biggest obstacle to the internationalization of the RMB is the exchange rate and foreign exchange control, which is the last firewall of the CCP to prevent economic collapse, and naturally the bottom line that the CCP cannot release. In other words, the CCP only wants to use the RMB to dominate and export the CCP’s influence, but it is unwilling and unable to take the responsibility and risk of an international currency.
To counteract the Chinese Communist Party, the five countries’ joint military exercises: an Asian version of NATO is ready to be launched?
The French navy-led “La Perouse” multinational joint exercise, this year, in addition to the Japanese Maritime Self-Defense Force, the United States and the Australian Navy to participate, India will also participate for the first time. It is scheduled to be held in the Bay of Bengal from April 5 to 7. Japanese scholars believe that the future may develop into the creation of the Asian version of NATO to counteract the Chinese Communist Party.
Japan’s Fuji Evening News reported on April 1 that the U.S.-Japan-Australia-India Quadrilateral Security Dialogue (Quad) held its first summit on March 12, impressing the international community with its gesture of cooperation against China’s growing military hegemony. This joint military exercise is not only for the four countries, including the United States, Japan, Australia and India, but also for the United Kingdom and Germany, which are also scheduled to send ships to the Indo-Pacific region, potentially accelerating the establishment of a collective security system.
The French Embassy in India announced on March 31 that India will participate in the exercise for the first time this year, and stressed that the joint exercise of the five countries will be an opportunity to promote “free and open Indo-Pacific” cooperation.
The joint military exercise can be seen as an attempt to expand the collective security system radially with Quad as the core, which is in line with the Biden administration’s attitude of “attaching importance to allies,” said Takashi Kawakami, director of the Institute of Overseas Studies at Takushoku University. The company’s main goal is to provide the best possible solution to the problem.
Shanghai takes the lead in Xinjiang? Foreigners entering Shanghai for more than 24 hours must register or the national extension
The Xinhua News Agency, the mouthpiece of the Communist Party of China Central Committee, quoted Shanghai police as saying on Wednesday evening that the newly revised “Shanghai Real Population Service and Management Regulations” include people who come to Shanghai for a short period of time, including those who come to Shanghai for medical treatment, study, tourism, official activities and visiting friends and relatives for more than 24 hours, and those who travel to and from official activities on the same day, as well as those in transit. However, the service does not include those who join the “one-day tour”.
Ms. Jin Shan, a Korean businesswoman in Shanghai, said in an interview with Radio Free Asia on the same day that this rule came very suddenly and caught people off guard: “Yesterday we all received a notice that if someone visits and does not register according to his new rules, they can be fined up to 5,000 yuan. It is indeed quite scary, Xinjiangization. Now it seems that only Shanghai, even Beijing has not been implemented.”
Left: Netizens mocked the new measures introduced by the Shanghai government. Right: Netizens say “this is a dream back to the days of checking temporary residence permits 20 years ago”.
Netizen “Jiangzhenxiang” message: If it is living in the home of relatives and friends, the registration work is too much trouble, will give the community and related units to increase the workload. I personally think this registration management is not very meaningful.
Another netizen said that Shanghai is becoming more and more like a perfect Foucault-penned panoramic prison, where everything is fixed more and more without fireworks. The actual creativity of the city is waning rather than increasing.
Mr. Xu, a member of the legal profession, told Radio Free Asia, “We find it surprising that this measure of control he has over people is inevitable for him. Because he is now trying to use every opportunity to perfect the control of the movement of people. In the process of the movement of people, he wants to know it like the back of his hand. On the other hand, he is now a pilot in Shanghai, and in the future will certainly be extended to Beijing, Guangzhou and Shenzhen and other major cities.”
According to official media reports, violators of the new “regulations” will be fined from 500 yuan to 5,000 yuan according to the circumstances.
G7 Trade Ministers Joint Statement to Resist Chinese Communist Market Disruption
After a meeting of top trade ministers from the Group of Seven (G7) countries on Wednesday (March 31), they issued a joint statement blaming the Chinese Communist Party, pledging to take collective action to address “harmful industrial subsidies” and other market-distorting practices. The G7 includes the United States, Germany, the United Kingdom, France, Canada, Italy and Japan.
The official statement said G7 trade ministers reaffirmed the importance of a rules-based multilateral trading system; they argued that if the world’s leading democracies unite and work together to develop an agenda “to make the global trading system fairer, more sustainable and responsive to the needs of citizens,” other trading partners will be willing to join that agenda.
Western countries have long been unhappy with the large subsidies given by the Chinese Communist Party to domestic companies, and the joint statement directly accuses the Chinese Communist Party of unfair competition through state subsidies, although the statement does not name the Chinese Communist Party, but says in the section on “free and fair trade”: “Trade ministers will discuss the impact of market-distorting practices on our economy, such as harmful industry subsidies, including those that lead to overcapacity in certain sectors, and develop ways to collectively address these issues.”
U.S. Report: Global Steel and Aluminum Overcapacity with Communist Party Policies to Blame
The Office of the United States Trade Representative (USTR) released its annual National Trade Estimate Report on Foreign Trade Barriers (NTER) on Wednesday (March 31).
The report affirmed the importance of the Trump administration’s “Phase I Agreement” with China on U.S.-China trade, saying it “establishes a robust dispute resolution system that ensures swift and effective implementation and enforcement.
In a press release, the USTR said, “China’s state-driven economy and trade approach has made it the world’s chief offender in creating uneconomic capacity, as evidenced by severe and persistent overcapacity in a number of industries, including steel, aluminum and solar energy.”
The report also criticizes the Communist Party’s Made in China 2025 plan, saying it “is creating significant overcapacity in other industries.”
The report makes clear that U.S. Trade Representative Katherine Tai will take a tough stance on foreign trade policies that impede U.S. exports.
The report adds that “the Office of the U.S. Trade Representative will continue its bilateral and multilateral efforts to address these harmful trade practices.”
Prominent Chinese-American Scientist Had Shipped Virus to Wuhan, Congress Urges Turnover of All Documents
Canada’s House of Commons Select Committee on Relations with China on Wednesday (March 31) asked the Public Health Agency of Canada (PHAC) to turn over within 20 days all unredacted documents on two Chinese-American scientists from Canada’s National Microbiology Laboratory who were fired in January this year and mailed viruses to China’s Wuhan Institute of Virus Research before leaving their jobs.
In July 2019, the RCMP removed from the National Microbiology Laboratory (NML) a well-known Chinese-American virologist, Qiu Xiangguo and her husband, Cheng Keding, who helped invent the anti-Ebola vaccine, as well as several Chinese students who were not fluent in English, for “Policy Breach.
In May of the same year, the Public Health Agency of Canada (PHA) commissioned the RCMP to conduct an administrative investigation into their dismissal from January of this year. The PHA has refused to explain to the Special Committee on Relations with China the reasons for their dismissal, saying that the mailing of the virus was in full compliance with relevant regulations.
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