China is in crisis, not in the ascendant (Review:"When China Rules the World")

[megimoo]

The first problem with this book is its title. There is no prospect of China ruling the world.

This is a country whose uncertainties of identity and economic frailties prevent it from ever projecting hegemonic hard and soft power. Its authoritarian institutions, far from being a source of strength, are a source of weakness. China is simultaneously big but poor, powerful but weak. And there, until wholesale political change occurs, it will stay, notwithstanding its considerable growth rates and economic achievement. Indeed, its current economic model, dependent on high exports and mountainous savings, is disintegrating, as both insiders and close...

http://www.guardian.co.uk/books/2009...-world-jacques

[stsinner]

That's bad news for America, because if China gets in too much crisis, they could call for their T-Bills to be honored, which we could never do.

Our only option would be to declare bankruptcy and say, "We don't owe you anything as of right now..." And see how that would play out...

[megimoo]

That's bad news for America, because if China gets in too much crisis, they could call for their T-Bills to be honored, which we could never do.

Our only option would be to declare bankruptcy and say, "We don't owe you anything as of right now..." And see how that would play out...

The Japanese did the same thing in the seventy's and brought buildings in New York City .After a few years they all went broke and sold them at a loss.Tbills are only as good as the US economy and The Liberal Democraps have destroyed that !