Wealth for 5000 years was in the East. In the last 300 years, the West invaded and changed things. By 1500 AD, Asia held 55% of the world’s wealth. The West had about 10%. In 1820 AD, the industrial revolution and the Western capitalist world began. Even so, 55% of the world’s wealth was in Asia at the time, with the remaining 45% going to the remainder of the world. Because England controlled India, the Western world upset the balance in 1913, bringing 50% of the wealth to the West while keeping the other 20% in the East.
In 1950, the USA became the absolute ruler of world wealth, while the East managed 12%.
There was a significant upheaval in 2008. China alone holds 20% of the world’s wealth, while Asia accounts for 35% of the global wealth. The US dollar’s current power has declined dramatically. Countries like Saudi Arabia, Russia, South Africa, India, and China are examples of a nation with great strength. In other words, 70% of the planet says that the one who produces basic materials and energy has power—for example, steel. Steel is one of the most important industrial materials, and steel mills (steel factories) belong to heavy industries. Previously, steel production was used to measure a nation’s industrial productivity. Despite the economic sanctions that have been placed on Russia, the USA still imports strategic metals and steel from Russia to construct and maintain its war machine. Let’s look at who makes steel and where they stand in the world.
In 2018 global steel production exceeded 1800 million metric tons. Over 50% (i.e., 930 million metric tons) of steel is produced by China. India holds 2nd place, and South Korea has 3rd place. The US is barely 4th place with 87 million metric tons of steel. In 5th place is Russia, with 72 million metric tons of steel. Russia has more deposits than China, yet it doesn’t exploit them.
There is a collapse of economic liberalism on both sides of the Atlantic. I believe in a free economy, but a free economy without principles and values cannot survive. Today the free economy applies the ideology of distortions instead of production, while the ideological sign of the West has been diversified and, at the same time, degraded. With degraded principles and values, how can one face the values in China, India, Africa, and South America?
I see on the horizon a war on behalf of the USA for the economic subjugation of Europe. The USA, by destroying the European banks, simultaneously destroys the European political and economic system and reduces the economic power of Europe. The USA also prepares for the political subjugation of Europe. Thus, it becomes rather apparent why American interests feel better when they see the weaknesses and destruction of the European banks.
Objectively with 31 trillion dollars in debt, with a dollar without power, and a socially broken America, it proves that the American system has become a giant parasite on the planet. What the US and less Western economies are advertising today is a parasitic way of doing business.
In 2011, the first phase of Nord Stream was completed. On the website of the Nord Stream company, there is a table with 24 of the largest international banks (European and American) that financed the completion of the Nord Stream project. Some of these banks were Credit Suisse, Societe Generale, Bank of Bilbao, BNP Paribas, ING Bank, Royal Bank of Scotland, the Bank of Tokyo-Mitsubishi UFG Ltd. in New York, and City Bank. These Western banks since 2011 have been financing Nord Stream until the Americans came along with the Norwegians and blew them up at the end of September 2022 (Seymour Hersh), (and at the same time, started taking revenge on the banks. Credit Suisse’s bank was valued at $7 billion, but they bought it for $3.2 billion through UBS (Global Bank). This is how the second largest bank in the world was created under the UBS brand with a significant objective to realize the USA’s financial and geopolitical interests in SE Asia, the Middle East, and Latin America, where America hurts. The economic war will continue putting other banks in a difficult position.
Note: Recently, Ukraine announced that SpaceX’s Starlink would stop providing services to the country. This situation means that approximately 2,400 ground stations in Ukraine will be without Internet. Therefore it will be difficult for them to direct their missiles against the Russians, and at the same time, it will be challenging for them to defend themselves.
Conclusion: Our planet needs balance. The USA wrongly provoked Russia and China, causing bloodshed, and broke up Ukraine for the sake of some fascists. Definitely, I don’t want to see Russia and China dominating the world. America must always remember that nations with a long history have taught them to lose, disappear, and reappear in world history (Xi Jinping). Russia, China, and India have already achieved this. The US is now obliged to restrain the alliance’s accumulated power between Russia and China.
Georgios Ardavanis – 07/04/2023