“It (China) also noted that as its largest creditor, Beijing has every right ‘to demand the United States to address its structural debt problems and ensure the safety of China’s dollar assets.’”
It’s not like nobody warned us this would happen. It doesn’t take a genius to see how it happened. And you don’t have to be an alarmist or conspiracy theorist to believe it, be concerned over it. But there is the thought in China now that they have the right to tell us, the US, how to run our fiscal policy. And since they are heavily invested in US dollars, and our economy would crash very, very hard if they tried to cash them in right now, they have an intriguing argument. Much like we have claimed the right of economic interest for many (most) of our military interventions, the Red Chinese actually do have an economic interest in the United States. First we crafted trade policy that allowed US jobs to migrate to China, with the blessings of our leaders. Then we sold them treasuries, that they bought with the new-found income from our old jobs, to finance our military voyeurism. All the while, our economy and infrastructure has crumbled at our feet. And now we are their investment and they want to tweak things to ensure a good ROI.
Somewhere in Texas, Ross Perot is shaking his head and thinking, “I told ya’ll.
Original article: http://www.cnbc.com/id/44050325
