The Chinese threaten hardball on foreign reserves
I'm skeptical that China would do this as their general present policy is to seek stability during their ascension, but the fact that it's even talked about from their side shows a China filling with confidence against an overstretched US.
The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation..
posted by mikevotes at
9:14 PM
10 Comments:
So the Communists have become hard-ball capitalists.
What's the point to ascending if you can't flex your muscles. No. It seems the Chinese have learned the capitalist lessons well. It's all about power and the Benjamins, baby.
By
-epm, at 9:31 PM
It's such a weakness in our society, and what did we get for that debt?
By
mikevotes, at 9:49 PM
Is Greed the American Achilles heel? Will we go bankrupt before we act financially responsible?
By
-epm, at 10:03 PM
Not many people think the national debt is real. The numbers are just too huge.
By
Anonymous, at 11:55 PM
ditto to Anonymous: there's a general feeling that the whole thing is so abstract, so nuanced, that it barely exists. Or, perhaps that since it's all electronic anyway (rather than gold-based) that it can all be somehow whisked away into the ether.
+++++++
By
Anonymous, at 12:10 AM
EPM, but my media center is so comfy....
....
Anon and Local,The counter argument is that it's only x percent of GDP, however, that argument breaks down somewhat when you look at the diosproportionate amount of debt the US is flooding into the world markets.
I would argue that it's a national defense issue simply because our chief rival China now holds that "nuclear option."
It's rather ironic in a way. Since WWII, the American empire has been built by engineering second and third world countries into debt and then leveraging that into power.
Now, here we are....
By
mikevotes, at 8:48 AM
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By
Dick Headley, at 9:42 AM
I can't see the Chinese actually doing it. But it's certainly significant that they would issue a veiled threat.
By
Anonymous, at 9:43 AM
Yes. The Chinese may not jump off the see-saw, but the might very well start testing the power of their leverage...
By
-epm, at 10:18 AM
That's my opinion exactly. That's a China feeling it's tiger dong.
I find it impossible to believe that they would do anything to upset their 2008 Olympics. That's the coming out party for the Chinese world power.
By
mikevotes, at 10:48 AM
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