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These provocations include political support for separatist movements, such as the US-funded theocratic-monk led Tibetan secessionists and the Washington-based Uyghur secessionists, as well as through the $6.4 billion-dollar advanced arms sales to Taiwan, a virtual protectorate of the US Navy.
President Obama has publicly met with and openly backed these separatist and secessionists groups, flaunting Washington’s refusal to recognize China’s existing borders.
This is part of the US strategy of encouraging the physical break-up of independent nations, which are viewed as ‘obstacles’ to its program of global military empire building.
In addition to continuing and escalating the hostile policies of his predecessor, the Obama Administration has exploited several other issues in order to rally American public opinion and mobilize overseas allies behind its confrontational posture.
In retaliation for growing Chinese exports, Washington has raised protective
tariffs on steel pipes and automobile tires, and issued Congressional
threats of further protectionist measures.
In contrast, China rejects economic sanctions, in favor of negotiations, while increasing its trade and investments in strategic sectors of the Iranian economy.
In
the United
Nations Security Council, the US has exerted diplomatic and mass media
pressure to force China to vote for a Zionist-authored proposal of
wide-reaching sanctions against Iran. Obama refuses to accept China’s
rejection of the US military-driven policy of regime change and the Chinese
pursuit of free trade with Iran.
In contrast, China is not at war and opposes military invasions of sovereign states.
China does not have overseas military bases and is menaced by the US
policy of encircling China’s frontiers with American bases in client states
in Northeast, Southeast and Central Asia.
At the
Copenhagen summit in December 2009, Obama rejected any formal agreement on
the reduction of carbon emissions while deflecting criticism and blame on to
China and other developing countries, which had agreed to informal
substantive targets on CO2 reductions.
This paramount issue has re-awakened painful memories of earlier
imperialist carving up of China, its rich port cities and territories and
has forced the Chinese authorities to consider retaliatory measures.
We cannot assume that China will remain a stoic punching
bag for the US, absorbing territorial threats, economic pressures and
gratuitous diplomatic insults without taking counter-measures especially in
the economic sphere.
China’s investment in US Treasury securities were used to help finance the economic ‘recovery’ (such as it is).
If the Obama regime persists in its provocations, China may decide to unload a large share of its US securities holdings, inducing other foreign investors to also sell off their holdings (CRS op cit). This would lead to a sharp depreciation of the dollar and force Washington to raise interest rates, which could drive the US into a deeper recession/depression.
Economists, who claim Chinese economic interests would suffer from such a sell off, overlook the fact that for Beijing, national sovereignty is more important than short-term economic losses, especially in view of US support for secessionist movements. Moreover, the Chinese have a high rates of savings, huge foreign reserves and increasingly diverse markets and suppliers of essential commodities.
China is in a better position to absorb the ‘shock’ of a decline in US
economic relations resulting from American bellicosity than the debt-ridden,
negative-saving, military-driven North American economy.
The Report goes on to state,
The US government has, in fact, blocked several large scale investments by Chinese companies, including the multi-billion dollar purchase of an,
Chinese investments in the US are not always profitable.
The Sovereign Wealth Fund (a Chinese government-run
investment fund) lost over 50% of its $8 billion-dollar investment in the
finance groups, Blackstone Group and Morgan Stanley, in less than a year.
And still Washington continues to attack Beijing on the
issue of “opening Chinese financial markets to Wall Street”.
Between 2006-2008 US annual
exports to China grew 32%, 18%, 9.5%, while its imports of Chinese goods
grew 18.2%, 11.7%, 5.1%. Moreover top US exports included electrical
machinery and equipment, power generation equipment, oil seeds and
oleaginous fruits, aero-space products, optical equipment and iron and steel
– a broad spectrum of American industrial products with high value-added,
well-paying skilled employment and lucrative profits.
In large part, the majority of exports from China to the US are the
result of US multi-national corporate decisions to produce and sub-contract
in China. In other words, the trade deficit with China is directly related
to US corporate global investment strategy, which, in turn, flourished after
the US government liberalized it rules and deregulated US corporate conduct.
Liberal investment policies under the US government, and not Chinese “unfair
trade rules”, are a major cause of the trade deficit.
The weakening of US productive capacity - its productive forces - was reflected in its declining competitive position and its deepening trade imbalances.
Given the tight relations between the White House and Wall Street, policy
makers sought to blame Chinese monetary officials for an undervalued
currency, rather than confront the bubble economy stimulated by the policies
of the Federal Reserve and generated by the Wall Street investment houses,
whose executives go on to occupy key economic posts in the US government and
who provide substantial funding for electoral campaigns.
China is the
leading buyer of American soybeans and cotton – accounting for over half
world sales of the former and between almost a third of the latter according
to the U.S. International Trade Commission and the US Department of
Commerce.
By purchasing low-interest US Treasury notes, China has financed US trade and budget deficits, which are the result of exorbitant military spending, multiple imperial wars and occupations, and unproductive speculative investments. The US multi-nationals have reaped high rates of profit from their investments in China, profits far in excess of what they would have gained in the US, and many times more than what a few Chinese firms earn in the more restrictive US climate.
Important US economic sectors in aerospace,
agro business, port facilities, transport and giant commercial retailers and
importers depend on and profit from trade with China. US speculators have
been able to rake in huge profits from the Chinese Sovereign Funds by
pumping and dumping speculative US stocks.
What is even more striking is that many
of the charges leveled against Beijing, including its ‘unfair treatment’ of
investors and ‘closed economy’ – apply with greater force to Washington.
The US economy has been driven by its financial and speculative capitalist classes, which in turn wield decisive political influence over state economic policy. At the same time, the commercial capitalist class is more attuned to importing manufactured goods, rather than in long-term investment in research, development in the American manufacturing sector. Neither commercial nor financial capital has a stake in stimulating US exports and in investing in the productive forces of the country.
The design and implementation of US
global strategy is controlled by the civilian militarists and imperial
ideologues, (especially the Zionists) in government and their counterparts
in sectors of the military high command.
Faced with China’s growing economic relations and influence in Asia, Africa, Latin America and the Middle East and Beijing’s opposition to US military-driven imperial policies against Iran, the Washington has escalated its political provocations, diplomatic pressures and interference in Chinese internal affairs. As these external pressures increase, Chinese public opinion turns more nationalistic, which in turn serves as a basis for US mass media charges of “xenophobia” and “chauvinism” on the part of the Chinese.
The irrational nature of the recent anti-China propaganda promoted by the US mass media is most evident in the shrill warnings of a Chinese military threat to Asian security, especially when the US continues to expand its chain of military bases encircling China from:
China has neither military bases abroad nor naval fleets off the coasts of
any US or allied territory.
The US has severely weakened its productive forces in the process of funding a global military machine.
China, on the other hand, has sought to become a world power on the bases of the long-term, large-scale development of its productive forces, even in the face of US opposition.
At each and every
turn, Washington has passed up enormous opportunities for the US economy
from China’s dynamic growth, booming market and overseas economic expansion,
in favor of petty provocations.
On the other hand China,
The contrast is striking.
Instead of looking inward to understand why the US is declining, the Obama regime encourages the public to blame China’s supposedly,
In the end the US will not resolve its budget deficits and trade imbalances, not to mention its endless imperial wars, by pandering to self-described divine rulers, like the Dali Lama, and provoking a dynamic economic power such as China.
Nor can Washington escape its profound economic imbalances by catering to Wall Street speculators and ignoring the decline of America’s productive forces.
Drones, military surges and surrogate puppet armies engaged in endless wars are no match for the surging investments, robust developing markets and joint ventures linking China with the dynamic emerging economies of the world.
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