What options does the US have exactly? If they allow china to do whatever they want, china is nore than capable of buying of half of the developing world.
The new chinese business route is exactly that. An opportunity for other nations to be less dependant on the west.
Western democracy is and I'm positive if the US dont persist with their trade war against china, they'll start losing economic influence.
They cant allow for that to happen to maintain the status quo. They're actually pulling the right strings against china here. Is it gonna work, who knows. But its their only logical move.

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Let's hear your conspiracy theory.

