Dec 29 2008
China/U.S. relations waning
So we have yet another scary situation brewing now, as U.S. officials are blaming the recession for waning relationships with China.
“The American economic slump is running into the Chinese economic slump,” says Derek Scissors, a research fellow at the Washington-based Heritage Foundation. “It’s creating the conditions for a face-off between Beijing and the U.S. Congress, possibly leading to destabilization of the world’s most important bilateral economic relationship.”
Why is this so scary? Because as this site had pointed out previously, we owe China a boatload of money. To the tune of over half a trillion dollars. Until now the growing country has been willing to invest in the United State’s national debt (see it on the right side of my blog, constantly going up) but China’s exports fell for the first time in seven years. Many signs seem to point towards the Chinese not being so gracious in the future. I wonder how president-elect Barack Obama will handle this situation when he takes office on January 20th.
More on this story later.
- VINYLSCHNEIDENDER für das Zeichen mit dem Bilden ausgezeichneter Vinylschneidender vom Redsail China
- Mechanical seal, mechanical seals manufacturer and supplier–China Ningbo LIHE INC.
- UPS, on line UPS, array UPS manufacturer and supplier–China Zhejiang Ward Electronic Co., Ltd.
- Bathroom accessories, shower panel manufacturer and supplier–China Zhejiang Baishide Sanitary Ware
- Magnet manufacturer magnets supplier–China Ningbo Bestway Magnet Co.,Ltd.
thanks for all the blog love, Brotha!
Ah…the sheer brilliance of “Free Trade” in a neoliberal globalized economy. I know I am talking to the “choir” here. I love your National Debt widget by the way! ~k
There is nothing Obama can do, because Americans consume products more and more, besides they demand for higher salary every year. Democracy and Obama can’t save the US.
Well, Obama can start talking about our government being fiscally responsible again (something we heard early in the campaign and less and less as time went on). But it looks like he’s instead chosen to inflate and prop up the economy with the government’s money.
As a libertarian, I hate this strategy… I would love to be wrong, but it just seems so pointless to protect the status-quo in an environment that is so muddled with corruption and greed.
I say let them fail. That would be the free market right?