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Iran and China Confront $40T Challenge
The article points to an escalation in international economic conflicts among the United States, Iran, and China. Washington relies on imposing sanctions and leveraging its dominance of the dollar to pressure its opponents, but this strategy faces resistance from countries developing alternative trade and financial networks and using their national currencies to challenge American sanctions. Meanwhile, Iran has announced a comprehensive plan to counter the economic war, focusing on a resilient economy that emphasizes trade with the East and the exploitation of regional transit routes. China also rejects the expansion of the economic war and affirms its refusal to accept unilateral sanctions, viewing these challenges as a shift toward a multipolar world. In this world, the dollar’s ability to impose influence weakens, and the financial risks associated with rising U.S. public debt—approaching around $40 trillion—increase. Allies of America, such as Canada, have expressed discontent by imposing retaliatory tariffs. These developments reflect the beginning of a decline in American dominance and indicate a shift in the balance of power within the international system.
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