US President Barack Obama has ordered the freeze of all US-based assets of the Iranian government and financial institutions, including the Central Bank of Iran.
It is not the first time the US has moved to freeze assets of countries at odds with Washington. Using its dominance in the global financial system, the US can apply further sanctions on targeted countries. No power can check this unscrupulous action.
Iran does not have colossal sum of property in the US. However, a question emerges: Would the White House one day freeze Chinese property in the US if the two turn against each other, or freeze assets of certain Chinese companies or banks in the US according to its own laws?
Chinese assets in the US are astronomical. The US treasury bonds it holds alone have reached $1.16 trillion.
Unchecked power tends to be abused. It is the same everywhere. US dominance in global finance, politics and media could all be used without restrations.
The world is not only threatened by a few rogue regimes, but also by a US hegemony without powers to balance it. Should its hegemony be used with care and restraint or for public good, this would be acceptable. But this is not the case.
Recent crises have affected the US' interest of being a model of leadership. Diplomacy has given way to the more frequent use of financial sanctions.
Within the US political sphere, there is talk of cutting off the Internet access of other countries. For countries that do not share US political ideology, it would be worrisome to use systems that the US dominates.
Tolerance of diversity comes from confidence. Feeling its authority being shaken, the US is pursuing more political allegiances.
The troubles brought by North Korea and Iran are small compared with the willful actions of the US, which may create tension that ricochet around the world.
The US should learn to act with reserve. Even it is confident in being right, it should take into consideration the reaction of others around the world and should not impose its will on others.
In recent years, it is the US that has imposed most sanctions on others and suffered the largest number of soldiers casualties on the battlefield. At the same time, the country's national strength has shrunk. This demonstrates that the country is on the wrong path. The US needs to thoroughly reflect on itself to make it clear what it truly wants.