The US cannot match Russia and China’s power and influence in Eurasia, which means the US can no longer be the global hegemon. From Pepe Escobar at strategic-culture.org:
The Russia-China strategic partnership, consolidated last week in Russia, has thrown U.S. elites into Supreme Paranoia mode, which is holding the whole world hostage.
Something extraordinary began with a short walk in St. Petersburg last Friday.
After a stroll, they took a boat on the Neva River, visited the legendary Aurora cruiser, and dropped in to examine the Renaissance masterpieces at the Hermitage. Cool, calm, collected, all the while it felt like they were mapping the ins and outs of a new, emerging, multipolar world.
Chinese President Xi Jinping was the guest of honor of Russian President Vladimir Putin. It was Xi’s eighth trip to Russia since 2013, when he announced the New Silk Roads, or Belt and Road Initiative (BRI).
First they met in Moscow, signing multiple deals. The most important is a bombshell: a commitment to develop bilateral trade and cross-border payments using the ruble and the yuan, bypassing the U.S. dollar.
Then Xi visited the St. Petersburg International Economic Forum (SPIEF), Russia’s premier business gathering, absolutely essential for anyone to understand the hyper-complex mechanisms inherent in the construction of Eurasian integration. I addressed some of SPIEF’s foremost discussions and round tables here.
In Moscow, Putin and Xi signed two joint statements – whose key concepts, crucially, are “comprehensive partnership”, “strategic interaction” and “global strategic stability.”