The End Is Nigh

Recently, US Secretary of the Treasury Steve Mnuchin stated, “If China doesn’t follow these sanctions [against North Korea], we will put additional sanctions on them and prevent them from accessing the US and international dollar system.”

By this, he meant that the US would shut China out of the SWIFT system, through which the great majority of international settlements are facilitated. In stating this, the US government is doing nothing less than threatening economic warfare against China, w...