Before reading this article, I sincerely invite you to click "Follow", which is not only convenient for you to discuss and share, but also brings you a different sense of participation, and it is more convenient to come back at any time to read more exciting content, thank you for your support.
As an old economic power, the United States has been relying on its currency superiority in recent years, coupled with the global status of the US dollar, to constantly manipulate the economies of other countries.
With the continuous development and rise of China, its influence in the fields of economy and science and technology has gradually become bigger and stronger.
The United States has begun to regard China as a thorn in its side, and has been launching an all-round containment of China through sanctions and a restrictive blockade strategy.
In the eyes of the United States, China's development and rise are very unfavorable to itself. As a result, China has launched a fierce competition with China in these areas, making the financial and economic fields between China and the United States face increasingly fierce competition.
Against this backdrop, the currency competition between the two countries is becoming more and more intense.
Compared with the US dollar, although the international influence of the mainland currency has been increasing in recent years, there is still a big gap with the global influence of the US dollar.
In order to maintain its global economic superiority and eliminate the impact of China's economic development, the United States has recently launched a powerful blow to the mainland's financial sector.
According to some media, the US government has not only downgraded China's credit rating by taking advantage of its economic privileges, but has also downgraded the ratings of major financial institutions on the mainland.
At the same time, the U.S. government is expanding sanctions against Chinese companies, and a large number of companies have been included in the sanctions list.
The purpose of the US side is very clear, that is, to limit China's development, and thus set off a new currency storm.
Recently, the United States has started a new currency dispute, causing the offshore exchange rate of the mainland currency to fall against the US dollar again.
Some analysts believe that fluctuations in the exchange rate are actually accompanied by various expectations and changes in various policies.
The change in the RMB exchange rate is actually the consequence of the currency war led by the United States, and behind this series of changes is actually the confrontation of economic power.
At the end of 2023, the Fed announced that it might announce an interest rate cut in March 2024.
After several rounds of interest rate hikes, the Federal Reserve released an interest rate cut policy, which has made many economies look forward to it.
So far, the Federal Reserve has not pursued a policy of cutting interest rates, but has recently released a signal of raising interest rates.
The US dollar continued to strengthen despite the Fed's delay in raising interest rates, while the US stock market experienced extreme volatility and a frenzied rise in bond yields.
The Federal Reserve has pursued a policy of raising interest rates, firstly, to ease inflationary pressures, and secondly, to harvest the wealth of other countries.
However, this policy is not a panacea, judging from the current economic situation in the United States, the implementation of this policy is also a huge challenge to the American economy, and the slightest carelessness may lead to the collapse of the dollar.
And can the U.S. government issue a currency war in an attempt to deal a blow to China's economy?
Judging from the data released by professional institutions in the mainland, the current economic growth of the mainland is still showing a strong trend, especially in the first quarter of 2024, with a year-on-year GDP growth of 5.3%.
This data fully shows that China's economy is still maintaining a strong growth trend, and China's economy is still maintaining a good growth trend in the currency war launched by the United States.
The fundamental reason why China's economy has been able to achieve such good results is the strength of domestic demand.
In the process of promoting China's economic development, domestic demand is an important factor that cannot be ignored. In the first three months of this year, the consumption power of the people rose by 4.7%.
At the same time, the manufacturing industry is also in a phase of rapid recovery.
Although the United States has been putting pressure on China economically, it has not been able to stop China's economic development.
Compared to China's economic growth, the United States has lost the currency war.
This is amply illustrated by the recent situation in the US stock market and the Treasury market.
Although the U.S. government has imposed sanctions on China one after another, and even continued to use the economic and financial fields to attack China, it is difficult for the United States to achieve its goals after all.
In the face of the economic crisis, the U.S. government has constantly attributed the problem to the influence of other countries, and even believes that China's development has had a negative impact on the U.S. economy.
In fact, the current crisis facing the United States is not caused by other countries, but by problems within the United States.
However, the US government does not have the ability to introspect, let alone reflect, but is accustomed to using hegemonic means.
However, the international situation has changed, a new economic pattern has been formed, and the United States continues to use the old methods to suppress other countries, and in the end it can only defeat itself miserably.
What do you think about the currency war?