Grasp What the Chinese are Saying?
Claire Berlinski, Ed. ·
Aug 6, 2011 at 9:23am
You like your sovereignty, America? You might contemplate the implications of this:
"China, the largest creditor of the world's sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China's dollar assets," it said.
It urged the United States to cut military and social welfare expenditure. Further credit downgrades would very likely undermine the world economic recovery and trigger new rounds of financial turmoil, it said.
"International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country," Xinhua said.
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Comments :
Re: Grasp What the Chinese are Saying?
I don't know, Claire. A country that uses currency policy to export its way out of economic stress, one that seems poised to have its own speculative bubble pop shortly, is hardly the one that should be demanding a "new, stable and secured global reserve currency." The Greeks used to call that "the euro".
Sep '10
Re: Grasp What the Chinese are Saying?
China currency manipulators? The chinese have to maintain a GDP growth rate of over 10% per year or they will suffer unrest, they chose inflation rather than deflation to keep exports up. If they allow their currency to rise, do you honestly think the Obama regulatory scheme will allow American companies to replace the chinese exports?. Meanwhile, the Chinese populace distrust their own currency and the government is actively encouraging them to buy gold & silver. If they were to begin backing their currency in metals we lose reserve currency status.
When we lose the reserve currency status, we lose our ability to buy Oil for dollars. We will be forced to transact with either the Yuan or bullion. Unfortunately their is no reason to believe we still have the gold that we are saying on our balance sheets.
Jun '10
Re: Grasp What the Chinese are Saying?
I think the main reason that our currency is still the one people seek, and will be for quite some time is, when push comes to shove we still have the military strength to get our way in most all conflicts. In a dangerous world, that counts for a lot. The psychology of fear is always very important. Without military strength, there is no lasting stability.
Mar '11
Re: Grasp What the Chinese are Saying?
What makes this report interesting is just how bold China has become. It reflects a definite contempt for our leadership. It's worth contrasting how the PRC explodes with rage at even a perceived slight, "You dared to meet with the Dalai Lama?!", and yet feels not the slightest compunction about dictating policy to the world's last remaining superpower.
Jan '11
Re: Grasp What the Chinese are Saying?
Under any other president, the idea that "International supervision over the issue of U.S. dollars should be introduced ..." would be a two-second laugh before we passed onto serious business.
With this president ... he might bow again ...
Jan '11
Re: Grasp What the Chinese are Saying?
Didn't we already agree to not drive big cars and refrain from keeping our thermostat at 72 degrees? Isn't this just more of the same? In fact, didn't we just learn that the planet has indeed begun to heal; something about less CO2. We should tell China to pay us for those carbon offsets.
Dec '10
Re: Grasp What the Chinese are Saying?
KC Mulville: Under any other president, the idea that "International supervision over the issue of U.S. dollars should be introduced ..." would be a two-second laugh before we passed onto serious business.
With this president ... he might bow again ... · Aug 6 at 10:20am
One might think that depending on the results of the next election, the point is moot, or may be a good one.
On the other hand, the transformation of our currency into the Worldo, like an outsized devaluated Euro, is something our historic first Islamic apostate president would not attempt on his own, in deference to Alinsky’s Rules for Radicals. However, in partnership with the ChiComs, Biden would call it some sort of big deal.
The dictators who pour the foreign aid we supply them into Swiss Francs, for all their faults, are at the very least astute in their currency speculation.
Edited on Aug 6, 2011 at 12:21pmApr '11
Re: Grasp What the Chinese are Saying?
It's like playing chess against a Master. He's in control of the board then suddenly, makes a series of terrible moves that leave him vulnerable. That's when you decide to go for the check mate, before he realizes his stupidity and regroups - the opening is fleeting. China is in a unique historical position - they are prosperous (by their own historical standards) and enjoy elevated importance in world affairs. The US is weak but the Chinese realize with an aging demographic and the need to keep pumping out exports or crumble, their opening for check mate is fleeting.
May '10
Re: Grasp What the Chinese are Saying?
Claire Berlinski, Ed.: You like your sovereignty, America?
Why the detached third-person reference? It's your problem, too.
Re: Grasp What the Chinese are Saying?
Matthew Gilley
Claire Berlinski, Ed.: You like your sovereignty, America?
Why the detached third-person reference? It's your problem, too. · Aug 6 at 1:03pm
It would sound weird in the first person, wouldn't it?
Jan '11
Re: Grasp What the Chinese are Saying?
I just happened to see that China has a AA- rating, worse than we have.
May '10
Re: Grasp What the Chinese are Saying?
Claire Berlinski, Ed.
Matthew Gilley
Claire Berlinski, Ed.: You like your sovereignty, America?
Why the detached third-person reference? It's your problem, too. · Aug 6 at 1:03pm
It would sound weird in the first person, wouldn't it? · Aug 6 at 1:06pm
I was thinking more along the lines of the first person plural, but I'm going to start sounding like my high school grammar teacher. To address your question, I'm with King and ctruppi. Maybe China doesn't realize or doesn't much care that it's throwing these stones from inside a glass house. On the other hand, I'm happy to talk about an international monitor until the Chinese are blue in the face, but the Seventh Fleet will be busy steaming through the Taiwan Straits the entire time. I trust we'll hear no complaints from them since our ships will be well into international waters.
Re: Grasp What the Chinese are Saying?
I have to say I don't know the answer to this. I cannot think of anything that points to the Obama Administration being projectionist, but you are arguing that we are importing goods to avoid what? Environmental damage? Maybe. But at the risk of further depressing manufacturing and its unionized workforce? I just want to point to that as a very intriguing question.
Dec '10
Re: Grasp What the Chinese are Saying?
These are serious times, but ctruppi seems to be thinking clearly.
China holds most of our debt Really? Come on Ricos, don't you know better than that? They hold, maybe $1 T, out of 15.
Pay attention! This is just a cut, one of a thousand. Our enemies suppport the Natural Resources Defense Council, Pakistan, Syria, Libya, Iran, etc., ad nauseum. They hit us from every side, every day, in every way they possibly can, including buying our own politicians. They force us to fund the EPA with money that is then given out as grants, to the radical environmental groups that sue the EPA, to keep us from being able to compete with China, which then shovels its environmental waste into the nearest river. They fund the movements behind organized labor that destroy our schools and attempt to take over choke-points in all of our industires.
They fund the oppositions in wars, all over the world, to wear our military down, then get us to pay for their military expansion.
None of this is nuanced. Who cares what Washington does, for now?
Whatever that is, it will be an inadequate mess. Put your boots on.
May '10
Re: Grasp What the Chinese are Saying?
It's only matter of time before China has a military strong enough to enforce its opinions. Fasten your seat belts. There's some serious turbulence ahead.
Nov '10
Re: Grasp What the Chinese are Saying?
Hopeless. Buy gold.
Dec '10
Re: Grasp What the Chinese are Saying?
You folks are so defeatist and seem to assume that China, or whomever, has the upper hand.
They do not. I've been fighting this China nonsense since everybody else was fighting the Japan nonsense, back in the early 1990s.
Our adversary is not China; it is us.
Just go look in the closet and see if you own a pair of boots and put them on. There is nothing in the world our adversaries would fear more than Americans putting their boots on. That includes those living in this country that want us to sit around and watch TV, or stare at computer screens.
What did you do today, to change things? Apart from reading and writing? I have already showered and have fresh clothing on, yet I just led a musical march for the youngest chickens, to get them towards the coop as the Sun fell, then sat in the rain-damped mud beneath the coop and sang to them until they hopped up the ramp.
If you want to fix this world, go weed your neighbor's garden. It does not matter if they vote differently.
Do you do things to make the world better?
Oct '10
Re: Grasp What the Chinese are Saying?
America is controlled by a Theocracy that is really no different than Iran. Our Theocracy is the Religion of Environmentalism. The Religion of Environmentalism is against capitalism, against growth, against efficient new energy sources, against people, but for Theocratic Control of America. Anthropomorphic Global Warming Hysteria is only one of many hysterias. The strongest characteristic of the Environmentalism believer is blind faith, best characterized by their use of the term, "Global Warming Denier."
Norway, Finland and Canada have used their natural gas and oil resources to help either rid them of debt and pay for the huge governments their people want or at least headed in that direction.
The Theocracy prevents oil drilling just about everywhere,natural gas exploration, clean coal and fracking. It gets billions wasted on wind farms, fuel from food, and ridiculous solar projects that are all highly inefficient. Their efforts are impoverishing the country and making growth impossible.
We should be drilling, exploring and fracking and using the royalties to reduce long term debt and the lower energy costs will enable growth. It reduces money to terrorists and helps our allows not to give money to thugs like Putin. The Theoacracy of Environemntalism is prventing it.