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2009-05-02 — www.presstv.ir
China, wary of the troubled US economy, has 'canceled America's credit card' by cutting down purchases of debt, a US congressman says.
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... data from the Treasury Department shows that investors in China have sharply curtailed their purchases of bonds in January and February.
"It would appear, quietly and with deference and politeness, that China has canceled America's credit card," Kirk told the Committee of 100, a Chinese-American group.
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dcd at 03:07 2009-05-04 said:
Our leaders need to go back and read the Communist Manifesto and re-study the strategies developed by Lenin, Stalin, and Mao. What they will find is that there is no timeline offered and that the goal is to be achieved by any means necessary. Communist China is not our friend. We were able to defeat the Soviets by forcing them to provide guns AND butter when they thought that military might was the be all end all. Now the threat comes from China. The Chinese - the Cental Party - have effectively dislocated our manufacturing base through slave labor and in the process have become our national creditor. Much like those trying to modify their loans with their banks, the US has to engage China in a game of economic chicken. One side has to call the bluff of the other and be prepared for the potential consequences or we must come to the conclusion of mutually assured destruction and work together recognizing our inter-dependency. The good news for us is that we have the military might - the question is whether we have the will to use it at all and the brains to use it appropriately (see Iraq and Afghanistan). We are also the bread basket to the world, hopefully we can continue to sustain our position. We are the innovators, IF we can continue to educate, develop and grow our children to think that way. If we can also regain our manufacturing base by developing new technologies and building the hardware here, it will go a long way toward of self-sustainability. Finally, we must also become energy independent. The bottom line is to play for the worst and hope for the best, negotiating from strength, not weakness. Permalinkadd a comment | go to forum thread
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