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Who the hell do they think they are? I say screw them and let them invest their surplus of US dollars from trading some other place. I'd like to see them find a better, stable, more trustworthy alternative than US Debt. We will continue to offer the highest and safest risk free rates of return, so the Chinese can attempt political posturing all they want, but they aren't fooling anyone.
Let's see what other Industrialized country they could turn to and earn a higher safer rate of interest?
UK - 10 Trillion dollars worth of public debt
France - 5.7 Trillion dollars of public debt
Spain - 2.4 Trillion dollars of public debt
etc
Oh yea want to stay in Asia
Japan - 1.4 Trillion dollars of public debt (170x GDP)
Seriously, I'm getting sick and tired of China trying to pretend they have muscles. They're a joke and for the time being and probably for the next 30-50 Years.
1. We need to force them to float their currency (they cannot fix their currency forever at some point those huge dollar reserves will run out)
2. They only have 10% of their 1 Billion population in the middle class (HA! they are such a joke)
3. Following step one will help US eliminate or significantly reduce our trading balance with them
It still hurts me. Japan's public debt also acts as their money supply. Its not debt. The problem was they should have just stopped taxing. Instead they gave it all away to the banking system with low interest rates and carry trade. Good for fat cat Japanese banks and good cheap cars for the world. For the Japanese, an early death from overwork.
You don't seem to understand... China can kick our butts if it came down to it, they have more economic and military influence... who cares about predator drones when they can shoot every one of them down... predator drones are only good when your enemy sucks and China does not suck... and they will hold a grudge if you don't listen to them... and when the time comes they will show it... right now they are building their power base until the time comes... if you don't like China's empire building, you should look at what our government has been trying to do for a long time... we share part of the blame... what we did, others are now copying...
You don't seem to understand... China can kick our butts if it came down to it, they have more economic and military influence... who cares about predator drones when they can shoot every one of them down... predator drones are only good when your enemy sucks and China does not suck... and they will hold a grudge if you don't listen to them... and when the time comes they will show it... right now they are building their power base until the time comes... if you don't like China's empire building, you should look at what our government has been trying to do for a long time... we share part of the blame... what we did, others are now copying...
Evil, it's not about war its economic. However since you brought war into the discussion the United States military is still much larger than Chinese and extremely advanced. China wouldn't stand a chance considering 80% of it's population is extremely poor and living in an agrarian society. China does not want to tempt the US militarily, plus a war between both nations would only result in significant destruction of both economies. The US would have print money to fund the War and Import Tariffs and other goods would ruin the Chinese economy due to the fact, they currently use the US Dollar as a backing for their own excessive currency printing. They have in comparison to the US very erratic and extremely high rates of inflation, so financing a war between the US and China may very well destroy the entire world economically. The chances of the United States or China ever declaring war is practically non-existent (not saying it couldn't happen due to political posturing.) Unlike the Cold-War the advances in satellite technology etc would gives us a much better advantage this time around in figuring out if China is the real deal or a joke like Russia turned out to be. My bets are similar to Russia they're the big dumb jock that is as soft as the other side of the pillow and is all loud noise. intimidating because of size, but has nothing to back it up with, when push comes to shove. It would take the US a matter of months to destroy most of china's heavy exporting industry and cripple their economy, which in effect would cripple our economy and vice versa.
You wouldn't go out and start a fight with your big brother because he owes you money? You certainly wouldn't attempt to intimidate him if you were bigger than he was would you? (maybe you would, but i doubt you'd do anything beyond threatening to do something if he didn't pay your money back?). Just my own personal opinion on how close our economies and growth are dependent upon each other.
China could cause the dollar to collapse at any time they want.
As for technology, they've stolen everything we have anyways.
Keep buying Chinese imports if you want China to grow at our expense. Keep supporting free trade if you want us to continue losing our industry to China and others. (this last part of my post isn't aimed at anyone in particular).
I disagree... China has how much more people than the US?? A gun in the hand of feeble old man is still a gun with bullets... you might shoot the first one but not the ten others right behind him... militarily, the US is in no position to fight against China, not even close... heck, they would have a really hard time fighting the North Koreans (currently the country with the highest number in the military)... add to that, the Chinese aren't even close to being hesitant to fire off a few nukes as an end game maneuver... America lost everything when other countries started developing their own nuclear arsenal... They don't care how many predator drones for fancy doodads you have... Why do you think Iran wants one? Or North Korea... why have a huge standing army consuming resources when you can replace them with a few nukes and demand everyone to pay up or face their nukes... Americans have been paying off countries to not develop nukes, not because we are afraid but because we know we will lose control... China has all the control it needs militarily, economically, but only fail in terms of technical but makes up more than that with the number of nukes they had... everyone is creating more nukes... even the US (even though we aren't "suppose" to)...
people are portraying china as the bad guy here. they did what any country would do given the opportunity.(heck, what we would do if we had the opportunity). they saw a chance for economic growth and they took it. the fault lies not with china, but with our own government for signing free trade agreements that guaranteed anything but free trade to the united states.
In fact if you look they are investing more of tehir moeny in other thngs than dollars.hey certainly are tying up alot of oil contracts for the future and other commodies.
You kids crack me up. 20 years ago the kids were saying the exact same thing about Japan.
You all should have learned a simple lesson by now watching the banking crisis play out but I guess not. If you owe someone a little bit of money they own you. If you owe them a ton of money you own them.
You kids crack me up. 20 years ago the kids were saying the exact same thing about Japan.
You all should have learned a simple lesson by now watching the banking crisis play out but I guess not. If you owe someone a little bit of money they own you. If you owe them a ton of money you own them.
For now that may be true. But China is divesting of their Treasuries and investing in hard commodities and also the new IMF notes. Remember China has started the rumblings of a new world currency.
These things take time. IMHO the wheels are in motion for that to happen in a few years. The US will implode under it's debt load if we continue down this path of spending like there's no tomorrow.
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