This goes back to the Cold War days. It's pretty obvious what's going on.
No conspiracies, even tho that's what many want to believe.
The US, along with most Western nations broke the financial backs of the Soviets in Russia and even though their total international debt load at the time was only around $100 Billion dollars, the financiers felt there was never a possibility of paying down that debt in the foreseeable future.
The West did this, firstly by funding small but extremely expensive internal wars, wherever the Soviets had influence and by giving China outdated, but still effective, ICBM tech and helping them to build their infrastructure to become the political/financial/power behemoth they are today.
Those folks weren't stupid. They saw what happened and how it toppled empires they once felt were secure.
Now, they're turning the tables on the Western nations, which are in WEAK financial/political positions over most of their effective boundaries.
At one time the US/UK/France/Germany/Norway were in a position to continuously outborrow and outspend the Combloc nations. That's changed and now the shoe is on the other foot.
I don't know how this will eventually play out. None of what's presently going on appears to have any sense. Digging up centuries old memories/ideals/religions/Monarchies, hates, and coupling it with Sociopatic and maybe even Pschopathic Bureaucrats, Financeers, Politicians????????????????????