China v. United States
Monday, 15 March 2010
“The long-simmering clash between the world’s two great powers is coming to a head, with dangerous implications for the international system.
“There are echoes of Anglo-German spats before the First World War, when Wilhelmine Berlin so badly misjudged the strategic balance of power and over-played its hand.
“As America’s creditor – owner of some $1.4 trillion of US Treasuries, agency bonds, and US instruments – China can exert leverage.”
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Posted in China v. Unted States, U.S. Credit Crisis | Tagged 1930 Smoot-Hawley Tariff Act, 19th Century, A wolf in the world, Adam Smith, Barack Obama, China, Creditor China, currency manipulation, Davos, Deficit Britain, Deng Xiaoping, First World War, George Walden, Imperial Preference, Larry Summers, Mao, Paul Krugman, revenge, Smoot-Hawley, U.S. Bond Crisis, U.S. Bond holder, U.S. government, U.S. sanctions, U.S. Treasury, Wilhelmine Berlin, Zhou Wenzhong | Leave a Comment »