US Wields Hidden Power Through Global Financial Control

The recent breakdown of Canada-U.S. trade talks has highlighted an underappreciated dimension of American power.

America's influence stems from its control over global financial systems, with many countries relying on access to the U.S. dollar for transactions and businesses. The country's dominant technology companies, including Visa and Mastercard, also give it significant leverage in international trade.

This was evident in the case of Canadian judge Kimberly Prost, who was sanctioned by the Trump administration for her work at the International Criminal Court. The sanctions disrupted Prost's access to banking, credit cards, travel, insurance, and major American technology platforms, with the U.S. not even needing to exercise jurisdiction over Prost's territory.

The sale of Canadian payment processor Moneris to an American private equity firm for $1.44 billion has also raised questions about the country's dependence on foreign systems. While Canada's economy is heavily integrated with that of the U.S., this integration can be used as a tool of coercion, leaving countries vulnerable to political pressure.

The failure of trade talks and the ICC sanctions demonstrate how America's power is not just economic but also financial and technological. The country's influence extends far beyond its borders, and its ability to use market, financial system, and technological infrastructure as leverage can be both a source of power and a limitation.