Paul Kane, in the New York Times, forwards a bold proposal for saving our economy: Ditch Taiwan.
There are dozens of initiatives President Obama could undertake to strengthen our economic security. Here is one: He should enter into closed-door negotiations with Chinese leaders to write off the $1.14 trillion of American debt currently held by China in exchange for a deal to end American military assistance and arms sales to Taiwan and terminate the current United States-Taiwan defense arrangement by 2015.
This would be a most precious prize to the cautious men in Beijing, one they would give dearly to achieve. After all, our relationship with Taiwan, as revised in 1979, is a vestige of the cold war.
I have no idea why he's thinking so small. Taiwan's GDP is about what, $450 billion? Japan is worth about $5.5 trillion. I bet we could get at least three trillion for it, even in this market. Selling Taiwan won't even make a dent in our debt, but selling Japan to China would be a serious down payment. Hey, we could throw in South Korea for another trillion. Heck, how much is ASEAN worth? Sell them the whole thing, maybe we'll all be able to collect Social Security after all.
How much do you think we could get for Hawaii? That's kind of a vestige of the Cold War too, when you think about it. Do we really still need it?