G7 File Photo: VCG

Following an intense warmongering over border tensions between Russia and Ukraine, which has drawn widespread criticism, even within the US, Washington appears poised to further fan the flames, as it has mobilized its G7 allies to issue a blatant threat against Russia. 

In a joint statement on Monday, the G7 finance ministers said that "we are prepared to collectively impose economic and financial sanctions which will have massive and immediate consequences on the Russian economy."

Given the current tensions between the West and Russia, in addition to the Western sanctions against Russia, the statement might have come as no surprise to many. However, at a time when the US, the EU and other Western countries are constantly accusing China of "economic coercion" against Australia and Lithuania, the statement lays bare the incredible hypocrisy of the West.

Just three days ago, on Friday, the US rallied its Asia Pacific allies of the Quad, Australia, Japan and India, to issue a joint statement saying that they "oppose coercive economic policies" and "will work collectively to foster global economic resilience against such actions." The statement did not mention China but many Western media outlets pointed out that it was a reference of Australia's claim of "economic coercion" by China. 

To fully grasp the utter contradiction in the position of the US regarding economic coercion just think about this: the US declared its unmistakable opposition to economic coercion and then, just three days later, threatened to do exactly that. 

Now, many in the US might want to play semantics about what constitutes economic coercion. But here is a definition, according to the Oxford Handbooks, "economic coercion is a threatened or actual imposition of economic costs on one state by another with the objective of extracting a policy concession."

Is that not exactly what the G7 has done and threatened to do to Russia? And we are not just talking about the blatant threats made on Monday but years of sanctions against Russia. The Ukraine-Russia border issue is extremely complicated with many players involved and so much misinformation spread by the US and some of its Western allies. However, for anyone who can read English, it should be crystal clear that what the US and its allies are doing is coercion, regardless of how hard they try to spin it. 

Another crucial point is that while the US and its Western allies have actually imposed or threatened to impose economic sanctions on Russia, if Moscow does not concede to their demands, China has never threatened or imposed any sanctions against Australia, Lithuania or anyone for that matter. 

In fact, the only economic measures China has taken in recent years against another country are the counter tariffs against the US' punitive duties on Chinese products imposed during the trade war. The WTO has allowed China to take countermeasures against some of the US tariffs. Moreover, China has not sanctioned any US businesses, even though the US has sanctioned hundreds of Chinese companies.

In this regard, the EU has also displayed an incredible level of hypocrisy. The bloc recently filed a complaint at the WTO alleging that China's "economic coercion" against Lithuania hurts EU businesses. Needless to say, the EU did not produce any evidence because there is not any economic coercion. 

Australia was the first to cry "economic coercion" by China, but after years of making such claims, Canberra has never produced any evidence that China has imposed any economic sanctions against Australia.

How is it that made-up "China economic coercion" garners so much attention, while actual economic coercion by the US and its Western allies appears so normal, at least in global media coverage? That is double-standard and Western hegemony at play as China and many developing nations have repeatedly pointed out. 

For the moment, regardless of how developing nations like China protest against such shameless hegemony, the West still holds the megaphone. However, as they recklessly behave in complete disregard for any principle and international norm, Western credibility and influence in the international stage will further decline, a trend that has already been established over the years.

In a joint statement earlier this month, China and Russia announced a clear opposition to hegemony and external interference, which they describe as threats to global and regional peace and vowed to usher in a new era of international relations based on mutual respect and equality. 

While Western elites sought to discredit the joint statement, many around the world are likely watching closely and looking forward to an era of international relations that are rid of constant bullying from the US and some Western powers. In a sense, the more the US behaves so recklessly and shamelessly, the sooner a fair and just global force will be formed.