Russia and China targets of new US “economic war”, says global strategist | The Business | ABC NEWS
As the US war against Iran nears the six-month mark, US treasury secretary Scott Bessent is threatening the US will wreck the economies of countries that do business with the Iranian regime. Rabobank global strategist, Michael Every says this is likely to impact Russia, China, Pakistan, North Korea, as well as countries around the Middle East and Central Asia.
The US treasury secretary said “every country, every entity should know that they should be prepared to face US sanctions and they know no one is above this. We are going to hold everyone accountable and this is economic asphyxiation of this regime”
Mr Every says the US operation, named “Economic Outcast” includes countries, which are nuclear armed and collaborating or cooperating together.
He says the US has to be prepared to act on its threat to wreck those economies, because if it doesn’t, everyone else will blink and carry on as usual.
He also says the US could use “tricks” to demonstrate its power within financial markets to become the “boss” of bond yields.
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