Well, I am aware of the power of the USA to finance its overseas empire by simply printing units of the international currency and I recognize the role that military power has played in supporting that function. But China can surely provide US Treasuries to trading partners in need of them from its reserve and that is a positive for them. In addition to an accounting shadow what the Chinese hoard of US financial instruments represents is the price of undervaluing their currency wrt the US$.

Carriers are a significant means of power projection, and so are bases such as on Diego Garcia and in Thailand and Okinawa. But these are of limited utility on the Asian continent from Russia east. So China and Russia will not be feeling constrained except for agricultural production any time soon.

The point I am trying to make in this diary is not that Russia, China and the BRICS are trying to eliminate the USA as a major international power, but rather that they are creating an alternative sphere not controlled directly by the USA, thus giving trade partners a choice.

"It is not necessary to have hope in order to persevere."