China's diplomatic maneuvers over the past weeks have produced all sorts of alarm among members of the Washington foreign policy establishment and media that America's influence is being supplanted in favor of a new and hostile "world order." (https://asiatimes.com/2023/03/chinas-diplomatic-wins-rise-from-americas-losses) The failure to see current events in balance-of-power terms goes a long way toward explaining how this situation has come about in the first place. Beijing recently stated in unusually strong terms that the US was seeking to "contain" China, an assessment which appears accurate in light of increasingly unambiguous American commitments to Taiwan and Western imposition of export restrictions on technology to China. Washington's attempts to isolate and hobble the Russian economy have made it inevitable that Moscow should look east for its energy exports, and increases the possibility of a renminbi-dominated trade zone eroding the global role of the dollar.
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