MCC and the Sino-US game
The US defines the MCC as a component of the Indo-Pacific Strategy, so the MCC is related to the game between China and the US.
When you think of the US these days, you have to think of its $35 trillion national debt. Faced with this astronomical figure, the only option for the US is to find ways to borrow new debt to pay off the old debt.
In fact, there are only a few countries in the world that can substantially increase their holdings of US Treasury bonds, of which China has the greatest potential.
To this end, the US attaches great importance to China. Treasury Secretary Janet Yellen just made a six-day visit to China, and Secretary of State Blinken is visiting China again. All the rhetoric that has been said and will be said is actually to persuade China to massively increase its holdings of US debt. If China does not listen, then the US will use all kinds of means to force China to obey, such as provoking and intensifying disputes in the South China Sea, encouraging Taiwan to move toward independence, pushing Japan to remilitarize, encouraging India to engage in border conflict, and so on.
In recent years, the US has launched trade wars, biological wars and scientific and technological wars against China, and China has basically withstood them all. A financial war and a perception war are going on between the US and China. If the US cannot win the financial war and the cognitive war, the only option left is the hot war.
China probably calculated that the US would not dare launch a hot war against it, because a hot war would inevitably force China to ally with Russia and Iran. What will be the pattern of the China-Russia-Iran alliance? A glance at a map of the world will make a lot of sense. It would be an alliance between the world's largest resource country and the world's most powerful industrial countries, spanning the entire Eurasian continent, while China and Russia rank second and third in terms of military power in the world, respectively. Is there any force in the world that can defeat this power combination of China, Russia, and Iran? Based on the above analysis, I don't think the US will launch a hot war against China. The US, then, can only hope to win the financial and cognitive wars against China. However, Treasury Secretary Yellen's trip to China failed to coerce China to substantially increase its holdings of US bonds, which marks the basic failure of the US financial war against China.
As for the perception battle, the US is increasingly unlikely to win, because the younger generation in China is largely averse to US ideology, and the Chinese who embrace the “American Dream” are mainly among elites born in the 1960s and before.
Let me make it clear that in this game of chess between China and the US, China is destined to win. Therefore, we should get rid of MCC as soon as possible. The US has unilaterally defined the MCC as part of its Indo-Pacific Strategy and forcibly included Nepal in its Indo-Pacific Strategy circle, which is a hegemonic act to frame Nepal. Nepal has no reason to deviate from its national interests and stand for the US. Remember that the US has repeatedly stressed that the MCC is its gift to Nepal. Thus, is it possible to return this gift to the US?