The ongoing war in Ukraine has brought to light a dramatic emergence of new global power blocs, with China at the forefront. As China solidifies its alliances with countries like Russia, India, Iran, Turkey, and Saudi Arabia, it is clear that they are working towards building a new world order, with multiple blocs grouped around China.
Control of the Global Oil Business
One of the key objectives of the Chinese bloc is to gain control of the global oil business. With China and India, the two largest countries by population in the world, as members of the bloc, this goal is increasingly within reach. India, for example, has been purchasing oil and gas from Russia that can’t be sold in Western Europe due to sanctions.
Economic Nationalism as the New Ideological Reality
The war in Ukraine has exposed economic nationalism as the new ideological reality governing the world economic system. As countries look for alternatives to doing business with the United States, the Chinese bloc offers a viable option. Sanctions against countries for doing business with Russia and China have had little effect, as more and more countries are turning to China and its allies for economic support.
Decline of the United States
The war in Ukraine has also exposed the decline of the United States as a reliable governor of the world system. As countries grow increasingly wary of keeping their reserves where the United States can access them, the Chinese bloc’s alternative reserve currency, the Petro Yuan, and the development of their own global payment system, a Global Currency system, are becoming more appealing.
A New World Order
It is clear that the world is changing, and the longer and worse the war in Ukraine becomes, the more determined the opponents of the United States’ shrinking position will be. The Chinese bloc and its growing list of allies, including the BRICS group, are working towards a new world order, one in which the United States is no longer the dominant power.