Power follows wealth. For the last near 40 years we (the west) have allowed greedy bankers to use our wealth to gain control of our industries and then asset strip them transferring production (wealth creation) to China and Chinese ownership in order to enrich themselves as individuals. (Remember the Reagan/Thatcher mantra of 'Greed is Good'). Well now that China has the wealth (thanks to our bankers) it is no surprise it intends to project the power that flows from that wealth worldwide.
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By (user no longer on site)
over a year ago
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"So apparently Xi plan is to move China to global power status - how much of a threat is this, if any?"
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The bad news is they'll take the guardian journalists round the back and have words with them!... Wait no that's the good news.
The bad news is it's gonna be quicker than you think
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"There not rising, they've rose while you weren't looking and now run the world.
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That's true.
They were hamstrung during the Mao years but as soon as they ditched all that hard line communist bullshit and embraced good old capitalism they have gone from strength to strength.
Surely a good lesson learned for all countries and politicians.
Oh wait a minute.   |
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By *ercuryMan
over a year ago
Grantham |
Just remember that rapid growth has a price.
Experts are saying that the Chinese debt mountain is nearly 300% of GDP. And that going on the best information that they can get out of China. Certainly unsustainable though. |
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By (user no longer on site)
over a year ago
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"Just remember that rapid growth has a price.
Experts are saying that the Chinese debt mountain is nearly 300% of GDP. And that going on the best information that they can get out of China. Certainly unsustainable though."
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They've been buying gold like it's going out of fashion for the last ten years, it's a two pronged attack as a hedge against the huge amount of US treasuries they hold plus this year they've started buying oil in yuan backed by gold, the 300% debt is immaterial in there eyes as they have the ability to both expand there economy internally and devalue their currency massively with little consequences as they now own all the foreign resources they need.
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By (user no longer on site)
over a year ago
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Plus don't forget, state debt is much more manageable than private debt.
Add on the west's private debt ratio against China's!.
Were like 1500% there about 350%.
In fact China's biggest problem in terms of an internal market is getting the Chinese out of a saving culture and into a borrowing one..... They just don't want to do it |
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By (user no longer on site)
over a year ago
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Lynden la rouche has been saying this for years and the one belt one road should link china to Europe but also africa and south America.
So that trade can be moved from southern Chile through a bridge connecting alaska and Russia so cargo can mainly go via high-speed rail. |
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"Trade may be less of a problem but what about their expanding military? We cannot even afford to keep our army at the present strength."
I would not worry that much about China militarily, they have never really been expansionists, unlike us. |
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"We cannot even afford to keep our army at the present strength."
BULLSHIT!
Maybe you have not noticed but let me point something out to you:
Every time our government cuts central and local government spending to save money (and pay for tax cuts). We are able to afford even less! Funny how 7 years of austerity have over doubled the national debt, but also doubled the wealth of the top 1% while making the bottom 70% 10% poorer! |
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"We cannot even afford to keep our army at the present strength.
BULLSHIT!
Maybe you have not noticed but let me point something out to you:
Every time our government cuts central and local government spending to save money (and pay for tax cuts). We are able to afford even less! Funny how 7 years of austerity have over doubled the national debt, but also doubled the wealth of the top 1% while making the bottom 70% 10% poorer!"
1 we still run a deficit so no we cannot afford our current army and
2 when will the left get it we cannot bring our debt down while we run a deficit, labours answer borrow more spend like its going out of fashio and push that debt up and up quicker till it bankrupts us |
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By (user no longer on site)
over a year ago
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"We cannot even afford to keep our army at the present strength.
BULLSHIT!
Maybe you have not noticed but let me point something out to you:
Every time our government cuts central and local government spending to save money (and pay for tax cuts). We are able to afford even less! Funny how 7 years of austerity have over doubled the national debt, but also doubled the wealth of the top 1% while making the bottom 70% 10% poorer!
1 we still run a deficit so no we cannot afford our current army and
2 when will the left get it we cannot bring our debt down while we run a deficit, labours answer borrow more spend like its going out of fashio and push that debt up and up quicker till it bankrupts us"
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See this is my biggest gripe with the right wing political philosophy, they fundamentally don't understand the economics of state debt and insist on treating it like household debt |
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"
That's true.
They were hamstrung during the Mao years but as soon as they ditched all that hard line communist bullshit and embraced good old capitalism they have gone from strength to strength.
"
Especially those caught by the Foxconn anti suicide nets... |
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By (user no longer on site)
over a year ago
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"So apparently Xi plan is to move China to global power status - how much of a threat is this, if any?"
Huge Threat !!!
Remember the ending of James Herbert's The Rats !!! |
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