US Behind the DIAOYU Islands Dispute: To Contain China, to Obstruct Renminbi from Becoming a International Currency

Opinion: US fueling Diaoyutai dispute to protect the dollar After the dispute between China and Japan over the Diaoyutai (Diaoyu or Senkaku) islands in the East China Sea became more acrimonious, not only has the Japanese government’s position fail to gain the support of its diplomatic allies, but Japanese media outlets have also criticized the government as the disastrous effects on the country’s relations with China have caused enormous financial losses for the country’s economy. Meanwhile, some international media reports claims the dispute will allow the United States to profit because of the considerable liquidity flowing into the US from China and Japan, which could help the obstruct the rise of China’s financial sector at the international level. An opinion piece published in a foreign media outlet said that the reign of the US dollar as the world’s reserve currency was the main driver behind US economic growth.