It is not the first time that war has sped up, but also skewed, historic transformations. The Second World War paved the way to the dollar taking over from the British pound the dominant role in international payments (Arab oil, for example, was swiftly re-denominated from pounds to dollars). The war in Ukraine prompted the United States to make moves which diverted considerable money flows from the dollar-based payments system to a yuan-based system run by Chinese cloud capital. As we speak, Chinese cloud rents accumulate, further overshadow Chinese capitalist profits, accelerate China’s
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