Posted on 08/01/2021 2:10:34 PM PDT by elpadre
Renmin University professor Jin Canrong has Washington’s attention. The senior director for China at the US National Security Council, Rush Doshi, cited him two dozen times in a new book entitled “The Long Game: China’s Grand Strategy to Displace American Order.”
Professor Jin’s warning on Friday at the “Observer” (guancha.cn) website that US inflation might lead to the bankruptcy of the US government will be read carefully in Washington – especially because Jin claims that China can help America out of its economic problems.
“The United States is in a state of mental transition,” the Chinese academic averred, citing the late Elizabeth Kübler-Ross’s five stages of grieving: denial, anger, bargaining, depression and acceptance. America was in denial three years ago, and shifted to anger, but “some sane people may be ready for the third stage,” and “be ready to bargain.”
“China should calm down,” Jin added, “do well at home, and keep Sino-US relations combative without breaking down.”
China’s exports to the United States in 2021 stabilized well above the long-term trend line, at an annual rate of about $550 billion. The above chart shows Chinese data for exports to the US (these are more accurate than US data, because many US companies routed Chinese imports through other countries to avoid tariffs).
The data is seasonally adjusted using the standard TRAMO algorithm on the Eviews econometrics platform. Shown on the same graph (right hand scale) is China’s net foreign asset position, which rose by a trillion dollars during the past two years.
American factory capacity can’t begin to meet the demand created by about $5 trillion of consumer stimulus, and American consumers turned to China’s robust supply chain for consumer electronics and just about everything else. (much more at link - including charts))
(Excerpt) Read more at asiatimes.com ...
The answer to that is “The ChiComs never help, they take.”
Their plan
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