From Economic Crisis and War to Eurasian Order

From Economic Crisis and War to Eurasian Order

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Historical resentments also have a special role to play. There is a faction in Washington (and to some extent in Europe) that feels a pathological emotional desire to go to war with Russia, largely because of the conviction that the Tsars (and later Stalin) were ‘anti-Semitic’.

Eurasia is rising Image © The Radical Outlook

By Markku Siira

A century ago, Halford Mackinder argued that the ruler of the “heartland” – Eurasia – between Russia’s Volga and China’s Yangtze rivers would rule the “world island”, which was his collective term for Europe, Asia and Africa.

Even today, Mackinder’s fascinating theory is still resonating as Russia and China, the two leading countries behind the Shanghai Cooperation Organisation, put this theory into practice, into a new multilateral system.

Of course, the idea is not particularly new. It is simply the re-emergence of an ancient trade-based economic area at the heart of Eurasia.

Historical resentments also have a special role to play. There is a faction in Washington (and to some extent in Europe) that feels a pathological emotional desire to go to war with Russia, largely because of the conviction that the Tsars (and later Stalin) were ‘anti-Semitic’.


Why is this ancient silk road being revived in modern times? Why is the Eurasian geopolitical paradigm rising and the Anglo-American order receding, despite what Western nostalgists imagine? This is not due to military superiority but to the laws of economics.

The US economy is suffering from post-interest rate inflation and the dollar is in the midst of an existential crisis. The Chinese economy, on the other hand, is growing on the back of increased domestic consumption and rising exports. China is one of the few countries that survived the corona crisis as a growing economy.

Beyond the economy, more than half of the world’s population does not see Anglo-American liberal democracy as a political system that suits them. As European colonialism began to unravel in the mid-20th century, the end of American domination and the neoliberal phase is now upon us.

Historical resentments also have a special role to play. There is a faction in Washington (and to some extent in Europe) that feels a pathological emotional desire to go to war with Russia, largely because of the conviction that the Tsars (and later Stalin) were ‘anti-Semitic’.

These “Trotskyite globalists” as I often call them, are partly responsible for the unification of Russia and China. Together with the American policy of sanctions, the escalating situation has provided China and Russia with an opportunity in the spirit of Mackinder. Zbigniew Brzezinski’s warning is coming true.

There was a time when British and then American hegemony overrode the importance of Eurasia, but this is no longer the case. The United States and the Anglophone world now face the greatest challenge to their economic and technological dominance.

The European Union is caught between two fires. Unlike the United States, it cannot just print more money to stimulate its ailing economy. The EU desperately needs trade and investment. Beijing, its biggest trading partner, has just told Brussels (and Washington) to abandon its moralizing style of discourse.


The ‘global counter economy initiated by China and Russia also has parallels in the geopolitical framework. It is precisely this aspect that Chinese Foreign Minister Wang referred to when he said that the Iran-China strategic cooperation agreement ‘will revolutionize the geopolitical map of the long-dominated West Asian region of the United States.

Wang hinted that the Chinese initiative will liberate the whole of West Asia (the Anglo-American “Middle East”) from American hegemony and establish a “sovereignist” and “multilateralist” order free from the “yoke of the West”. The Chinese minister did not limit his political message to Iran but said the same in Saudi Arabia, where the reception was also favorable. China has already engaged Pakistan and Turkey in the past.

For the Russian-Chinese Eurasian partnership to succeed, Mackinder’s heartland theory must come true. For that to happen, and economic crisis – a dollar collapse and a euro crisis – is already on the horizon. All past history and the logic of economics confirm this will happen.


The European Union is caught between two fires. Unlike the United States, it cannot just print more money to stimulate its ailing economy. The EU desperately needs trade and investment. Beijing, its biggest trading partner, has just told Brussels (and Washington) to abandon its moralizing style of discourse. Meanwhile, Europe’s “transatlantic security partner”, Joe Biden, has called for Euro-vassals to back him in the fight against his Eurasian rivals.

The US probably learned nothing from its meeting with China in Anchorage, Alaska. It will press on and engage in a war on two fronts if the wiser thinkers – rather than the usual Deep State war hawks – do not make their voices heard in the talks. The Biden administration is already irritating China in the South China Sea and Taiwan. Similarly, things have been difficult close to Russia, in Ukraine, and in Belarus.

For the Russian-Chinese Eurasian partnership to succeed, Mackinder’s heartland theory must come true. For that to happen, and economic crisis – a dollar collapse and a euro crisis – is already on the horizon. All past history and the logic of economics confirm this will happen.

The plan of the Shanghai Cooperation Organisation is to make the ‘island of the world’ an independent entity, not dependent on the ‘periphery of the ‘five eyes’ of the Anglophone powers. Western economic practices must also be abandoned. Russia and China have enough state-owned gold (probably more than they are prepared to publicly admit) to back the yuan and the ruble as contract currencies.

By giving these two currencies free convertibility to gold, they will be accepted everywhere, as some analysts believe. Even the Cold War-era enemies of the Eurasian powers can prosper from trade. The US has enough gold to return from dollar hegemony to the gold standard. This would be a win-win situation in the Chinese sense, untypical of Anglo-American tastes.

This scenario can succeed if the transatlantic hegemon radically cuts its spending, balances its budget and abandons its megalomaniacal political ambitions. If all goes well, the current new Cold War will end and we will move to a Eurasian order, not a third world war. 

The views expressed in this article are the authors’ own and do not correspond to our Editorial Policy.


Author

Markku Siira is a Finnish freelance writer and geopolitical analyst.


Republishing is allowed with the copyright credit to © The Radical Outlook

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The Radical Outlook

The Radical Outlook is an online news web Portal designed for in-depth news analysis from the Eurasian region and beyond. It is Founded by a geopolitical analyst Shahzada Rahim.
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