foxdemon wrote:I do find it interesting that China is buying gold in such large quantities. Could they be preparing for an attack on the USD status as global reserve currency?
There is nothing they can do to the US that wouldn't hurt them more. China may want
to have the world's reserve currency, but the reason they cannot do this is that they run trade surpluses. In fact, this is why they are having problems with the US now. Their belt-and-road initiative isn't really helping either.
JohnRawls wrote:2) The economic growth in the last 10 years has been fueled by a large debt expansion which had enormous waste.
Yes. They've built entire cities with nobody in them. It was just an effort to keep the GDP number artificially high.
Nonsense wrote:The boot is now on the other foot in terms of power, China has military muscle, not that it needs to wield it over Hong Kong & it would be silly of the U.K to make a political crisis out of an issue that is none of it's business.
China will 'honour' the agreement, but will ensure that it's interest will not be threatened by anyone in Hong Kong or elsewhere.
I think after the fall of the Soviet Union, there was an overweening and unjustified sense of optimism that communism would collapse in China. Giving up Hong Kong while retaining a capitalist system and granting MFN status to China was seen as the beginning of the end of CCP rule, but that has not materialized. Remember the Tiananmen square protests happened in 1989 after the fall of the Soviet Union.
I think a Chinese invasion of Hong Kong will cause considerable economic problems for China, which I don't think they are seeing yet. I think Xi Jinping is playing to a domestic political audience, but seems unaware of the problems China will face if it invades Hong Kong.
Nonsense wrote:Long gone are the gunboat diplomacy days of British power displayed in the opium war with China,which resulted in the treaty of Nanking, when China ceded Hong Kong to Britain,we could barely muster the resources to reclaim the Falklands back from Argentina, that was both costly & exposed just how weak this country really is.
They recently let Iran seize a British-flagged oil tanker. A lot of Britain's weakness is political more than military.
Nonsense wrote:Building large aircraft carriers(Labour's idea)as a 'tour de force', is just a fig leaf over our military weakness that changes nothing with the reality on the ground.
Two aircraft carriers with F-35s can do considerable damage to an enemy, but not if there is no political will to use them.
Anyway, Trump will have to pull out all the stops in 2020. The media hates him and will do their level best to destroy him. Apparently, Scaramucci has gotten some sort of payoff to needle Trump. I imagine there will be others. However, Russiagate is a clear failure, so they have pivoted to "white supremacy." Byron York covered this recently: New York Times chief outlines coverage shift: From Trump-Russia to Trump racism
Personally, I think that's going to fail too. The reason--like Russiagate--is that it's not based on truth. It's predicated on the politics of personal destruction. Additionally, in calling Trump a racist, they are now basically doubling down on calling Trump's supporters "deplorable." That didn't work out well in 2016. The interesting thing about American politics now is that you can't get a clear idea of what will happen until election day, because the media deliberately misreports everything. We're drowning in disinformation. Additionally, people lie to pollsters. A lot of people strongly agree with what Trump says, but they strongly disagree with him saying it. So he's much stronger than he appear in the polls.
"This is no time for Donald Trump’s record of hysteria and xenophobia – hysterical xenophobia – and fearmongering to lead the way instead of science."
-- Joe Biden on banning travel from China during the coronavirus outbreak