THE RISING SEA DRAGON IN ASIA 2007 UPDATE
Also on FR for comment---> HERE.
Well the utter ignorance expressed in this comment indicates this author has utterly NO clue at all what is happening anywhere outside his own trailer park and is simply not worth wasting time or bandwith on.
We're safe until after the 2008 Olympics...
Also on FR for comment---> HERE.
"Some say that the Chinese would never take such an action because it would hurt them as much as Americans."
No, some say the Chinese would never take such an action because it would devastate their economy while only "hurting" Americans. Give me a break.
Interesting post & opinion piece.
I wonder if anyone cares if the Chinese Govt runs one of our biggest US ports on the west coast.
Well this guy is proof positive that with enough money and the right contacts they will give a PH.D to anyone. Not only is his Foreign Policy skill non existent his understanding of fiscal policy is about as limited as Paul Krugman's.
China holds enough US Debt to be totally at the mercy of the US Goverment. IF for any reason the US Govt were to not pay those notes (For example, the US and China went to war for some reason) their whole economy would go right in the crapper. Right now China holds the equivilent of half it's annual GDP in US debt. While it only represents about 1/14th of annual US GDP. WE can easily live with out THEM at need, THEY absolutely have to have access to our markets.
The there is the problem. Even if China wanted to dump it US Treasury issues, WHO would China sell to?
I have NEVER understood this need of the Dinocons consitently cling to their rabid Xenephobia over all basic Economic reality. When dealing in these sorts of numbers the BUYER, not the Seller, controls the Market.
I get so tired of everyone using the word addicted for meaning used to or expecting.
Addicted means you can't change without illness, not displeasure (at least in my book).
In the same book, the author also decribed how China could fall apart from the inside triggered by an oil crisis, AIDS epidemics, ethnic uprising, and massive unemployment. It is not easy to balance economic growth and polical stability.
Gives you something to think about it
Trade with China has not hurt the US economy at all (look around you and all the massive construction that is still taking place across America). Here in the Seattle area, construction cranes dot the skyline.
What trade does do (and the debt the US has with China), it allows China access to technology. An intangible that does not take anything away from the US. And it is the acquired technology (whether in science, manufacturing or financial), that will help alleviate global proverty (including poverty in China).