WILL CHINA CALL IN THE U.S. DEBT?
by Don Hank, blogging at http://laiglesforum.com/obama-no-match-for-china/1801.htm
(Sept. 16, 2010) — Obama has been pushing China for a long time to revalue the RMB upward. In view of their refusal, he has recently made noises of wanting to erect trade barriers against China. A Chinese think tank has warned him that he will lose and has mentioned the unspeakable: the specter of the Chinese calling in our nearly trillion dollar debt with them.
Obana most assuredly will lose – ignominiously.
Obama is on a roll, having steamrolled over the US public with his open borders and amnesty policies, with his gifts to his banker buds who donated to his campaign, with unlimited “stimulus,” health care “reform,” lawsuits against Arizona, even human rights complaints filed against Arizona before the UN, his arrogant refusal to use the Dutch skimmers in the Gulf, the transfer of power to the corrupt unions and anyone who, like him, is minded to destroy the US, and on and on.
The reason he can do all these things is that he is the current occupant of the White House, is well-situated among the American left and the world banking elites, and, sorry to be so blunt, but his color is a teflon coating. It just is and everyone knows it.
So he is seemingly invincible in his adopted country and the West at large.
Many analysts have rightly observed that little or none of what he is doing and has done politically is a mistake. It is purposeful destruction of our economy and our culture and an intentional takeover of as much power as he can grab in keeping with the Cloward-Piven handbook.
On the other hand, most of us who worry about Obama’s seemingly unbridled power have not noticed some of the background noise with China. It started some time back when the US, Mexico and the EU decided to gang up on China before the WTO and demand that she start selling more of her scarce resources to the rest of the world instead of hoarding them. (At least one report says there may be a shortage by 2012). The action failed.
But Obama is accustomed to getting his own way and does not handle failure with aplomb. So now he is trying to pressure China to raise the price of the RMB (the Chinese yuan). That would be sweet, since we owe the Chinese many billions of dollars and we would like to see the cheapest possible dollars go to pay them.
But, whereas China-hand Geithner has had enough experience to know that the Chinese won’t be bullied, Obama apparently thinks they will eventually just give in like the Europeans.
But there is something about the Chinese that most Western leftists and New World Order types don’t realize – although they will get a crash course in it soon – and that is, that China is not on board with the stealth socialism that has been wrapping its tentacles around us for the past 100 years. They have had their experience with communism and, while they are content to hang on to a large dose of the economic system Mao introduced, they are not, nor will they ever be, missionaries and proselytizers spreading the gospel of Marxism the way Western elites do. In other words, while the European elites are on board with all the shenanigans of subprime mortgages and wealth redistribution as a tool of “social justice,” the Chinese have had their fill of these kiddy games and are moving on. They definitely are not interested in whether the West becomes socialist or communist. They are only interested in China. Woa, you say, then why the interest in, say, Tibet? And Taiwan? The answer is simple: the Chinese are and always will be enamored of their own culture – very much unlike the Western elites. One of the first things I heard from people on the street in Taipei was that the Chinese have a 5,000 year old culture. They are proud nationalists – both in “free” China and on the mainland. Tibet speaks a language that is little more than a dialect of Chinese and is written with Chinese characters. As far as China is concerned, Taiwan and Tibet are culturally part of China and that makes them hers.
Therefore the PRC wants these regions safely in the sheep fold.
Unlike the Russians, they have no interest – and historically have had none – in dominating other parts of the world.
But (and here is a big “but” that Obama will eventually learn the hard way) they will not give anything to anyone unless made to do so with considerable, overwhelming force or with an attractive bargaining chip. (Remember when Chou En Lai received Nixon and said “you wouldn’t be here if you didn’t have something we want”?)
Obama will soon learn that he does not have anything China wants worse than what he wants from China. Sure, China needs us as a trading partner, but they also know that we can’t do without their cheap goods, so the threat of trade barriers is like a toy pistol. When Kissinger first made overtures toward China, it was out of an interest in furthering the New World Order, which would ultimately lead to a one-world government, with the Western elites at the helm. That move, and the moves made by all western elites since then with China were based on the naïve assumption that the Chinese, being far leftists, would be equally enamored with a socialist one-world government in which they played a role roughly proportional to their importance. That was a fatal miscalculation that is still ongoing and is almost amusing to watch. While China has no dreams of world domination, it also has no designs on playing a minor role in anything. If the elite want to start divvying up the world, then China will play along as long as China gets the lion’s share of the benefit. They don’t see the West as a partner. They see us as an opportunity, like a cat sees a mouse.
Obama, like every one of his predecessors, deals with China as though he believed they had a sense of fairness like ours and, because they are fellow leftists, must be in his camp.
The fact is, the Chinese despise the West and its superficiality. Thus they have no appreciation of our subterfuges like “climate change” (remember how Obama had to chase down his Chinese analog at the Global Warming conference?). Further, while they have many admirable traits, fairness in trade and diplomacy is not one of them. In dealings with the West, they treat that trait for what it is: weakness and stupidity. And now that they hold what may be called a controlling share of US debt, we simply do not have any bargaining chips with which to go to the table. None. And when dealing with China, that is an extremely precarious position to be in.
Obama has met his match. He is overwhelmed. Whether he appreciates the delicacy of his position is unclear at this juncture. It will be interesting to see his reaction when he finally awakens from his opiate slumber and realizes that China – and Russia too – are not about to cooperate or play Western power-by-stealth games. They have him in a strangle hold and will do what any wrestler would do – take him down for the count.