Putin-Xi meeting could Herald end of 'Dollar Hegemony' and US domination

SPUTNIK

Chinese President Xi Jinping’s visit to Moscow for in-depth talks with Vladimir Putin has provoked angry responses from Washington and Europe. Hong Kong-based political and financial analyst Angelo Giuliano explains why the summit can be seen as a threat to Western hegemony.

Closer economic ties Russia and China could spell the end of the dollar’s primacy in trade and even US imperialist hegemony.

Chinese President Xi Jinping arrived in Moscow on Monday for three days of talks with his Russian counterpart Vladimir Putin.

The meeting had already provoked a flurry of angry statements and political diversions, including the International Criminal Court’s attempt to accuse Putin of child abduction and Washington’s rejection of Beijing’s blueprint for peace in Ukraine.

Angelo Giuliano told Sputnik that ever-deepening cooperation between the two Eurasian giants had “far reaching consequences for the ‘collective West’.”

“China and Russia are very complementary,” Giuliano explained. “Russia has the natural resources that China is lacking and China has a very large industrial/manufacturing base and financial strength.”

Crucially, China can help Russia bypass sanctions imposed by Western countries following the launch of the military operation in Ukraine.

Moreover, “Both countries are preparing for a possible wider confrontation with the collective West,” Giuliano stressed. “Both countries are already in a de-facto alliance.”