Yesterday I said China and the US would confront each other despite the finance situation, today for contrarians some proof!
Yesterday in response to my saying that China and Russia will come to the aid of Iran when an all out confrontation breaks out between Iran and the US there was the standard group of people who said the US would never endanger the tenuous relationship with their money source and that China would never endanger their primary income source. Well guess what today brings?
First the closing arguments in yesterdays story. Both Moscow and Beijing share a heightening distrust of what they see as the United States' oversized role and influence in global politics, and the two former Cold War rivals have forged a "strategic partnership" aimed at counterbalancing Washington's policies. The Russian-Chinese war games, which took place near the Urals Mountain city of Chelyabinsk, coincided with Russian air force maneuvers involving 20 strategic bombers which ranged far over the Atlantic, Pacific and Arctic oceans.
The group of strategic bombers, early warning aircraft, fighter jets and refueling planes represented the biggest show of Russian air power in that region since the early 1990s, said Brig. Gen. Ole Asak, chief of the Norwegian Joint Air Operations Center. NATO in recent years has expanded to include the former Soviet republics of Latvia, Lithuania and Estonia as well as the Czech Republic, Hungary and Poland.
The Shanghai Cooperation Organization SCO is a regional group dominated by Moscow and Beijing and are obviously on Iran's side. Iranian President Mahmoud Ahmadinejad, whose country has SCO observer status, attended the summit for the second consecutive year. On Thursday, Ahmadinejad echoed Russia's criticism of U.S. plans to deploy missile interceptors in Poland and a radar in the Czech Republic, saying they were a threat to the entire region. http://www.blogger.com/
later Yesterday I learned Dozens of anti-China bills, denouncing China for alleged currency manipulation, illegal subsidizing of exports and violations of intellectual property law, have been circulating in the Senate for months. But since the recent health scares over toothpaste laced with antifreeze and tainted pet food from China, the anti-China sentiment on Capitol Hill has noticeably risen. So much so that Treasury Secretary Henry Paulson is about to head to China to raise "issues of concern to the U.S. Congress" with Chinese officials, including Chinese Premier Hu Jintao.
The threat of a trade war with China, by far the largest holder of U.S. debt, is serious. If China perceives itself a target, it might in turn levy a harsh tax on American imports, or outright forbid them. Such consequences, though, are not high on the minds of several Congressional committees looking for a way of easing the trade imbalance, which last year reached $233 billion.
The Senate Finance Committee approved a bill, by a 20-1 vote, that would allow the Treasury to take action against China by lowering its standard for identifying currency distortion. Since China stopped pegging its currency to the dollar in 2005, Senators say that the Yuan may have been undervalued by as much as 40%, making American exports to China more expensive and Chinese exports to America cheaper.The Senate Banking Committee has its own China bill, which would also make it harder for the Treasury to avoid labeling China as a currency manipulator.
The feeling is that China must be held accountable for its predatory practices. meanwhile we are watching Russia and China willing to confront us on not only a financial field but in a military field. This confrontation is growing on every front and it will end in as desired, Confrontation.
http://www.time.com/...
I reiterate It is unbelievable to me to think that Bush does not realize that when all is said and done and the war in the middle east ramps up as Iran and the US go after each other, that Russia and China will step in to help Iran regardless. Bush's drive for war and new middle east order will soon be WW3 and total disorder. Can anyone see this possibly being avoided?
James Joiner
Gardner, Ma
www.anaveragepatriot.com