This article states plainly that the Chinese have our government by the short hairs. What is their weapon? Their US Dollar reserves. Who wrote about this 2 years ago? Me. I hate being smart. I love foreign policy, and I find it amazing that the dipheads in charge did not see anytime since the last energy crisis and true blue recession (late 70s/early 80s), that the USA might want to make some moves to limit our non-military vulnerabilities.
My other WTF is this article. Thank you Bloomberg. It's like the entire free world is just standign around distracted by the cheap toys they can buy that are in shoddy durability and does not notice that an authoritarian oligarchy that executes citizens in massive droves, restricts freedom and other horrors is buying assets up. I do dislike the coverage of China as a monolith of mass production. No country is ever a monolith in anything. Even Nazi Germany had its nuances and inner struggles for power/style. There are China skeptics, here, here here and here. The last link is best for breaking down the first link and showing people China has its issues. The middle two links are from one writer's site who uses some pretty comical phrases. It makes you question when fuddy duddy d-bags like this guy, who has a great blog for investing/trading, describe China as full of green meadows, puppies, happy & free people, and the future to a wonderful world. If you read Bill Cara long enough, you think the USA is the totalitarian dictatorship and China is the democracy. Hmmmm, maybe they both are. No, I can still rip ont he president without fear of death. I keep wanting to email d-bag Bill, and say "Hey Bill, if the US really were so authoritarian, your little website would be gone and you'd be dead. That's what happens in China. Ni Hao, mutherphucker". (Side Note: I am going to learn Mandarin Chinese for fun)
Sorry for that tangent. China has its problems, but it relies on us just like we rely on them. It's a horrible conjoined twin syndrome. We would not be in as bad of a bind if the consumer culture in our nation were toned down and corproations had not sold many basic manufacturing jobs out to the Far East. Don't worry we still manufacture things in the USA, as I typed in an earlier blog entry, our exports keep growing. We just can't stop buying other people's sh*t. On the other hand, if we did not buy so many imports, those developing countries would be in a tight spot. This is why the Chinese would not flood the market with dollars to create a crash of the US Dollar. They would be screwed as well. Still, the idea of the Chinese threatening the USA with this when it tries to claim Taiwan sounds too reasonable to me. Can't you imagine them doing that, smiling the entire time? Globalization: can you dig it?