This sums up well the current tectonic shift in the banking world.
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US bank trouble heralds end of dollar reserve system
Bank crisis not a credit quality problem but stems instead from now-impossible task of financing America’s ever-expanding foreign debt
By
MARCH 25, 2023
[My Comment]
The current US/China dance is not about Taiwan or South China Sea. They are just domains or theaters in the grand scheme of world affairs. I bet elites in DC certainly know what David Goldman wrote in this article. Just like in every day life, people choose their own ways of doing things. Dollar is the symbol of Pax Americana.