A Question of Hegemony, Credibility, and Change (of one sort or another)

The Inforos article linked below is essentially about failure of credibility of the EU as a reliable negotiating entity and the unacceptable situation around crushing US sanctions against Iran – both important enough a stories in their own right. 

But the story hides a much more important and wide-ranging issue – that of the impending issue of the demise of US dollar-hegemony in favour of the Chinese Yuan. It is just a matter of time and the creation of the right conditions to make that jump impregnable to external attack (if there is sufficient time remaining to do so before the general demise of monetary and financial systems worldwide as a result of the collapse of growth and its collaterally collapsing of global economies).

“Already, the four largest banks in the world are Chinese. The only factor which has so far delayed China’s assumption of the role of the world’s banker is that the Chinese government has not yet decided to make the Yuan a more easily tradable currency. Further preparation is still required before the Chinese decide to flick that switch. Once they eventually do, it’s game over for the Dollar.”

JCPOA Negotiations are a test of the EU’s geo-political credibility

How can the EU be taken seriously as a negotiating partner if its hands are always tied by American intransigence?

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