Mixed feelings on China replacing US as a global hegemon but I guess everyone needs their solar panels now.
China doesn’t have the power projection to replace the USA as a global hegemon right now. That means there’s still time for international institutions to fill the void in the coming decades.
China makes everything we need and eventually they’re going to get Taiwan (militarily or diplomatically) and have most of the world by the balls because of TSMC. That’s one side of their power projection. They also made moves to tie much of the world economically by other means. Lending in Africa is high and accompanying infrastructure investment allows them to both profit from interest and having their own companies work on those projects - a win win, for China at least.
Some people are hung up on Yuan not being able to replace US Dollar but I don’t think China wants this at all. It’s a free market capitalist dogma that you need to issue currency accepted as the default in global trade for power projection. All it does is it kills your local manufacturing.
China doesn’t have the power projection to replace the USA as a global hegemon right now. That means there’s still time for international institutions to fill the void in the coming decades.
China makes everything we need and eventually they’re going to get Taiwan (militarily or diplomatically) and have most of the world by the balls because of TSMC. That’s one side of their power projection. They also made moves to tie much of the world economically by other means. Lending in Africa is high and accompanying infrastructure investment allows them to both profit from interest and having their own companies work on those projects - a win win, for China at least.
Some people are hung up on Yuan not being able to replace US Dollar but I don’t think China wants this at all. It’s a free market capitalist dogma that you need to issue currency accepted as the default in global trade for power projection. All it does is it kills your local manufacturing.
What they lack is America’s network of allied bases from which to instantly and lethally project power over much of the globe.