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.”

A Robert Hefner illustration

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