Interesting article from Motley Fool.
Incidentally, I was predicting something similar yesterday. My reasons were slightly different -
1. Chna is sitting on huge reserves and IOUs
2. The USA must borrow money from China to finance Osama’s multi-trillion $ pork and Wall St. bailout deals. He who lends the money, makes the rules.
3. After the presnt situation returns to normalcy, watch the ChiComs go on a arms-building/buying spree.
Will China implode from internal problems? Probably not. I think they’ll come out of this Wall St.-generated crisis as a stronger bunch of blood-thirsty maniacs.
Folks irked by Obama coins that are simply stickers placed on 50-cent pieces
Walden Bello | February 9, 2009
Editor: John Feffer
As goods pile up in wharves from Bangkok to Shanghai, and workers are laid off in record numbers, people in East Asia are beginning to realize they aren't only experiencing an economic downturn but living through the end of an era.
[snip]
The Illusion Of Decoupling
"Even though China appeared to be a new driver of export-led growth, some analysts still considered the notion of Asia "decoupling" from the U.S. locomotive to be a pipe dream. For instance, research by economists C.P. Chandrasekhar and Jayati Ghosh, underlined that China was indeed importing intermediate goods and parts from Japan, Korea, and ASEAN, but only to put them together mainly for export as finished goods to the United States and Europe, not for its domestic market. Thus, "if demand for Chinese exports from the United States and the EU slow down, as will be likely with a U.S. recession," they asserted, "this will not only affect Chinese manufacturing production, but also Chinese demand for imports from these Asian developing countries."
[snip]
This Chinese official seems to disagree:
“Mr Luo, whose English tends toward the colloquial, added: “We hate you guys. Once you start issuing $1 trillion-$2 trillion [$1,000bn-$2,000bn] . . .we know the dollar is going to depreciate, so we hate you guys but there is nothing much we can do.””
http://www.ft.com/cms/s/0/ba857be6-f88f-11dd-aae8-000077b07658.html
China and other world powers (AKA Russia and the Former USSR, Iran, and Venezuela and its allies) will see war with the West as the only way out. This is what they have been dreaming of since 1945, and I don’t think they will pass up a golden opportunity to attempt to take us out.