Under the current complex and ever-changing international economic situation, the United States is trying to maintain its economic and financial hegemony through various means. Recently, the yen has depreciated sharply and the price of gold has also fallen sharply, which has caused widespread concern and concern. What are the deep-seated motives behind this phenomenon? Is the United States adopting a financial strategy of "closing the net in an all-round way"? What major changes will be brought about in the global economic pattern? All these are worthy of our in-depth consideration and analysis.
First, the hegemony of the dollar has been challenged
Recently, the yen exchange rate has fallen sharply, from 152 at the beginning of the year to 155.7 at present, a drop of more than 4%. At the same time, the price of gold also fell sharply from an all-time high of $2,430 to $2,320 an ounce. This phenomenon is reminiscent of deeper financial turmoil on the horizon.
The reasons for these changes may not be as simple as they seem. Industry insiders believe that there is a shadow of the US financial strategy behind this. As the world's largest economy, the United States has been trying to maintain the dollar's global dominance. But at present, this position is facing unprecedented challenges.
The first is that the structural problems of the US economy are becoming increasingly prominent. According to the data, the public debt of the United States has reached 34.5 trillion US dollars, and the hidden debt is as high as 166 trillion US dollars. This huge debt is weighing on the US economy, and there is an urgent need to balance the books through external means.
The second is the growing economic power of emerging market countries. China, Russia, India and other countries have accelerated the pace of currency internationalization in an attempt to wean themselves off the dollar. This has somewhat weakened the global dominance of the US dollar.
In addition, the rise of digital currencies also provides new options for reducing dependence on the US dollar. Digital currencies, including the digital yuan, are impacting the traditional fiat currency system. This poses an unprecedented challenge to US financial hegemony.
To sum up, the financial dominance of the United States is facing shocks from many sources. Against this backdrop, the United States has had to adopt a more aggressive financial strategy in order to maintain its central position in the global economic landscape.
Second, the U.S. financial "harvesting" strategy
In the face of challenges from all sides, the United States has recently taken a series of tougher measures in the financial field. This includes attempts to exert pressure on other countries to maintain the dollar's dominance through interest rate policy, money supply, and direct financial sanctions.
In Japan, for example, the yen has fallen sharply against the dollar, which may be related to the financial policy of the United States. Analysts point out that the United States may be using its influence to oppress Japan through financial means, which in turn will affect the entire Asian economy.
This practice is not unique. The United States has also threatened to remove Chinese banks from the international payment system SWIFT, which will undoubtedly have a serious impact on China's financial operations.
It can be said that the United States is "harvesting" the financial systems of other countries through various means. This not only increases global financial uncertainty, but may also force other countries to make more strategic considerations in financial security and international cooperation.
To some extent, this reflects the severity of the structural problems of the US economy itself. High levels of public and hidden debt make it urgent for the United States to use external means to stabilize its economy. The exertion of financial pressure has become an important choice.
But such an approach would undoubtedly further exacerbate the volatility of the global financial landscape. After all, America's financial hegemony cannot be sustained forever. If other countries join forces to confront each other, the financial dominance of the United States will be hit even harder.
Third, the global economic order is facing reshaping
This "financial harvesting" strategy of the United States has undoubtedly exacerbated the turbulence of the global economic pattern. In addition to the impact on major economies such as Japan and China, it could also trigger a ripple effect that could further destabilize the economy of Southeast Asia as a whole.
In the case of Japan, for example, if its economy is in turmoil, its large investment in Southeast Asia may also be implicated, which will affect the economic development of the entire region. This will undoubtedly increase economic uncertainty in countries and force them to re-examine their economic relationship with the United States.
At the same time, it is a warning that the stability of the global economic landscape may be far more fragile than it seems. The U.S. can exert pressure on other countries through financial means, which means that no country can be independent of the U.S.-dominated financial system.
Against this backdrop, countries must prudently approach their economic relations with the United States and seek more partners to reduce the risks posed by dependence on a single economy. At the same time, it has become more and more urgent to accelerate the internationalization process of the national currency and improve the ability to resist risks.
In fact, this reshaping of the global financial landscape has already begun. In addition to the rise of digital currencies, some emerging market countries are also trying to establish new payment and settlement systems to reduce their dependence on the US dollar.
It can be said that the "financial harvesting" strategy of the United States has undoubtedly accelerated this process. In order to safeguard their own economic security, all countries must take the initiative to respond and jointly build a fairer and more stable international financial order.
4. Coping strategies and prospects
In the face of the US "financial harvesting" strategy, what kind of countermeasures should all countries take? In the short and long term, there are mainly the following aspects:
1. Strengthen international cooperation. Countries should strengthen financial regulatory cooperation, establish a sound global financial safety net, and jointly respond to the financial pressure of the United States. At the same time, we will actively promote the process of currency internationalization and reduce dependence on the US dollar.
2. Improve the ability of independent innovation. Countries should vigorously develop new payment tools such as digital currencies to improve the resilience of the financial system. At the same time, we will strengthen fintech innovation and cultivate a more competitive local financial market.
3. Optimize the industrial structure. Countries should speed up the optimization and upgrading of their industrial structure to reduce the risk of over-dependence on the United States. At the same time, we will actively expand emerging markets, diversify export channels, and enhance our ability to resist external shocks.
4. Improve the regulatory system. Countries should further improve their financial regulatory systems and strengthen supervision over transnational financial activities. At the same time, we should strengthen the construction of information sharing and early warning mechanisms, and improve the ability to identify and respond to potential financial risks.
In addition, countries should also establish a sound national financial security system, including improving laws and regulations, and improving the capacity and efficiency of risk management. Only by doing a good job of our own financial security defense can we better cope with the "financial harvesting" strategy of the United States.
5. Promote the diversification of the financial market
In the long run, countries should further diversify their financial markets. In addition to improving the competitiveness of domestic financial markets, it should also actively participate in regional financial cooperation and expand broader international financial ties.
For example, Asian countries can strengthen regional financial cooperation and forge closer monetary and capital market ties. This will not only help diversify risks, but also help promote regional financial integration and enhance the ability to resist financial stress in the United States.
At the same time, countries should also make full use of digital financial technology to develop new financial instruments such as digital currencies and cross-border payments, so as to improve the flexibility and resilience of the financial system.
In short, in the face of the escalating "financial harvesting" strategy of the United States, countries must take more proactive and pragmatic responses. Only by strengthening international cooperation, improving the capacity of independent innovation, and promoting the diversification of financial markets can countries better safeguard their own economic security and jointly build a fairer and more stable international financial order.