Sanctions Backfire: US Is Being Left Behind

Image from Creative Resistance by Natasha Mayers, Artists Rapid Response Team (ARRT)

The United States has a long history of dominating international economic institutions and has been able to use that power in the past to control other governments and enrich its industries. At present, the United States is waging an economic World War targeting much of the world economy, including allies who refuse to comply with US mandates.

Among the nations included in the US economic war are China, Russia, Iran, Turkey, Venezuela, Nicaragua and North Korea. The European Union is being threatened with economic sanctions if it does not obey US demands to blockade the Iranian economy.

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The US’ power and influence are waning. Measured by the real economy; i.e., people’s ability to purchase goods,the CIA’s World Factbook ranks China as the largest economy in the world, $4 trillion larger than the United States, which ranks third after the EU. Also in the top 20 are Russia, Turkey, and Iran.

US tools of economic domination are failing and are causing the country to be isolated as the rest of the world moves in a multi-polar direction. Countries are cutting the US out of their markets and building independence from US-dollar domination.

This is a time for the US to change its strategy, but the power…

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