China begins to laugh at America
By JR Hoeft | Wednesday, June 3rd, 2009 | PolicyIt appears that the vicious modern day triangle trade is on the verge of collapse.
The triangle trade that I refer to is national defense being provided by America in the Middle East for the free flow of oil to China, China manufacturing cheap goods for export to America using said oil as an economic lubricant, American dollars being then exported to China to buy their products in return for China holding massive amounts of the U.S. national debt.
This little deal has worked well…until now.
It appears the gig is almost up.
Recently, US Treasury Secretary Tim Geithner was in China, lauding the stability of the U.S. economy to students at Peking University.
According to the Financial Times, the students had a rather unique reaction that the secretary probably didn’t expect:
In response to a question after his speech, Mr Geithner told the student audience that “Chinese assets are very safe”, drawing loud laughter from his student audience – a reflection of scepticism among many Chinese about the wisdom of building up large foreign reserves.
Great.
On the anniversary of Tienanmen Square, where untold numbers of students were murdered by an oppressive regime, the students aren’t laughing at their own government, they’re laughing at ours.
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About the author
Conservative to the core; liberal with his opinion! J.R. has been involved in politics for over a decade and has worked on several campaigns in Hampton Roads. He has served on the Executive Committee of the Republican Party of Chesapeake and the Central Committee of the Republican Party of Virginia. He is also the director of “Blogs United” in Virginia. E-mail J.R.. Follow J.R. on Twitter.
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6 Responses to "China begins to laugh at America"
[...] begins to laugh at America Bearing Drift On the anniversary of Tienanmen Square, where untold numbers of students were murdered by an [...]
It is our fault we’re being laughed at by the Chinese. We’ve proven how spoiled and backward we really can be with all of the uncontrolled spending and companies and cities begging for money. The Chinese know they are throwing their money into a black hole. Watch “The Money Pit” where Tom Hanks’ character runs around promising to pay everybody back, and Shelly Long’s character states that his word is better than his checks and I’ll pay you back will be written on his grave stone. Sounds familiar.
Remember, public school = liberal boot camp for your children. Only the teachers know what is best for your children. Parents are assumed to know nothing at all and have no voice regarding course assignments, especially in Chesapeake Public Schools. CPS = Liberal Indoctrination to slowly take rights away without protest. Support school choice.
as long as the US remains the largest market for Chinese goods, the Chinese will continue to buy Treasury bonds from us because they want to keep their products cheap. whether we like it or not, China and America have intertwined themselves economically
Amit,
While that is true. What happens when China finds somewhere else to market their goods?
I have seen reports suggesting that they are aggressively courting the European Union in an attempt to break from any dependency on us. I believe that their long term goal is to replace us as one of the world’s leading superpowers. With the policies currently being administered in Washington D.C., they are coming ever so close.
Steven, don’t get me wrong, we’re are in trouble and if I was China I would be looking for ways to diversify my portfolio as well. China is a superpower and we helped them become one.
I’m laughing too.
I’m now convinced that the only way to end the American empire and restore the Republic is for the empire’s purchasing power to be nonexistent.
Basically I’m now hoping and praying for a complete collapse of the US dollar and for it to lose 100% of its purchasing power.
I’m tired of the fuc$#@ing warfare/welfare state!
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