Et tu, Japan?

Last month, U.S. Commerce Secretary Wilbur Ross indicated his intention to insert a “poison pill” provision in a new Japan trade act to hinder it's trade with China and other countries under sanctions.
This is a touchy subject because already a third of Japanese companies are being hurt in Trump's trade war with China.

So what did Japan, one of our closest ally, do this past week?

China and Japan have reaffirmed their commitment to deepening bilateral economic and financial ties at an economic forum in Beijing, reaching several potentially far-reaching deals and trade and investment. Economists say the results of this forum could produce longer-term positive consequences for the entire region.

Top Chinese officials and members of the Japanese delegation reached a $28.80-billion currency swap deal during the bilateral forum last week...The agreement is seen as advancing regional trade by increasing the share of regional currencies in multilateral trade and investment. Up to this point, the lion's share of trade in the Far East has been based on the US dollar, rendering the flows of goods and capital exposed to the dollar-yen and dollar-renminbi fluctuations, Federal Reserve policies, and global currency markets.

Uh, did someone mention to Japan that we wanted them to do the exact opposite of that?
In addition to Japan boosting non-dollar trade with its natural trade partner, China, Japan increased non-dollar trade with Russia by 18%.
It's almost like Japan thinks it has an independent foreign policy.

While Japan remains a staunch ally, it is taking a cautious but significant step away from the U.S.
This is monumental, because almost all of Asia has broken out of America's sphere of influence.
Russia, China and Iran were our targets before this year. Pakistan, Turkey, Iraq, Vietnam, and the old Soviet republics rebelled against dollar hegemony this summer. India fell out of our sphere of influence this past month, and is looking to boost trade with China.

Except for Israel and the Persian Gulf, the entire continent of Asia is now largely outside the control of the United States.

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Amanda Matthews's picture

Instead we’re building a monster installation that going to kill off coral reefs. The ‘occupation’ is over.

We’ve been a ‘friend’ to no one in that part of the world. It’s been a long time coming (as some say), but our days if ‘empire’ are over and the West’s 1% are seeing control slip through their greasy fingers.

And who knows how far into the abyss they’re willing to take us all to try to get it back?

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I'm tired of this back-slapping "Isn't humanity neat?" bullshit. We're a virus with shoes, okay? That's all we are. - Bill Hicks

Politics is the entertainment branch of industry. - Frank Zappa

snoopydawg's picture

and going with other currencies for their trades? This country should be doing all it can to not being a has been, but instead its threatening one country after another. One can only throw its weight around for so long until people just walk away from the bully.

Both Russia and China are preparing for war because of the USA's belligerence. War games close to Russia. The navy has ships into the China seas and the Black Sea and you can believe that if either country had sent battle groups to the pacific or Atlantic this country would go ballistic.

RT has an article about how the US wouldn't face threats if it would bring its troops home. Of course this is a no brainer.

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Which AIPAC/MIC/pharma/bank bought politician are you going to vote for? Don’t be surprised when nothing changes.

Voting is like driving with a toy steering wheel.

@snoopydawg

https://www.rt.com/op-ed/442319-threat-us-military-border-nuclear/

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Amanda Matthews's picture

@snoopydawg

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I'm tired of this back-slapping "Isn't humanity neat?" bullshit. We're a virus with shoes, okay? That's all we are. - Bill Hicks

Politics is the entertainment branch of industry. - Frank Zappa

lotlizard's picture

Except for Israel and the Persian Gulf, the entire continent of Asia is now largely outside the control of the United States.

U.S. hubris had to meet its nemesis sooner or later.

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and philosophy, American style capitalism. Like we learned as citizens, today's capitalism has no loyalty except to profit, by whatever means. The US is about to learn what that means when its own creed is used against it on a international level by former allies. It's days of leadership are over.

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dervish's picture

@Snode is something that Adam Smith wouldn't recognize, but Al Capone would.

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"Obama promised transparency, but Assange is the one who brought it."

dervish's picture

proves just how far off the deep end the US has gone.

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"Obama promised transparency, but Assange is the one who brought it."

Lookout's picture

the petrodollar is in collapse...
http://brainfeed.tv/2018/10/26/the-us-dollar-is-done-china-saudi-arabia-...

Maybe Japan did the currency swap to buy saudi oil...:-)

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“Until justice rolls down like water and righteousness like a mighty stream.”

divineorder's picture

@Lookout

https://www.scmp.com/business/investor-relations/article/2117707/sorry-f...

Sorry folks, but there is no Chinese alternative to the petrodollar

‘Those who foresee in the pipeline a petroyuan to effectively challenge the hegemony of the petrodollar are ignoring the practical realities of the global financial system’

PUBLISHED : Tuesday, 31 October, 2017, 10:15am
UPDATED : Tuesday, 31 October, 2017, 10:47pm

Comments: 6

But why would Middle East energy producers want to do that given that their own currencies are pegged to the US currency, as indeed is Hong Kong’s.

But then he goes on to write of one very big "IF" :

The euro, which might logically have been seen as a competitor to the US dollar, hasn’t really challenged the greenback’s global currency hegemony, but that doesn’t mean the yuan couldn’t, especially if Middle East energy producers could be persuaded to accept the yuan in exchange for their oil and gas.

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A truth of the nuclear age/climate change: we can no longer have endless war and survive on this planet. Oh sh*t.

The Liberal Moonbat's picture

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In the Land of the Blind, the One-Eyed Man is declared mentally ill for describing colors.

Yes Virginia, there is a Global Banking Conspiracy!

boriscleto's picture

@The Liberal Moonbat

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" In the beginning, the universe was created. This has made a lot of people very angry, and is generally considered to have been a bad move. -- Douglas Adams, The Hitch Hiker's Guide to the Galaxy "

Hawkfish's picture

@The Liberal Moonbat

For most inaccurate historical movie or something? Mel tends to go off the deep end when he’s ona roll...

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We can’t save the world by playing by the rules, because the rules have to be changed.
- Greta Thunberg

ggersh's picture

and globalization ends the better, the big qustion
is when do the people of the world get fed up by
being robbed blind of their basic human rights

[video:https://www.youtube.com/watch?v=m7C6IJ-s6BQ]

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I never knew that the term "Never Again" only pertained to
those born Jewish

"Antisemite used to be someone who didn't like Jews
now it's someone who Jews don't like"

Heard from Margaret Kimberley