Economic Warfare
business and energy journalist, James R. Norman discussed the geopolitical maneuvering of various countries as they engage in what he calls economic warfare. The U.S. uses higher prices of oil as an economic weapon against oil-poor China, while China employs its undervalued currency in a similar fashion against America, he explained.
"Economic warfare is the order of the day...that's the way war is fought now," he said. The Chinese bought up a huge amount of US treasury bills in order to keep the dollar strong, so the US and other countries would continue buying their exports, he explained. Norman also made the controversial assertion that the US went to war with Iraq in 2003 in order to keep China from gaining control of their vast oil reserves. Further, he suggested the real reason the US is in Afghanistan is to protect India from China, and prevent China from supplying Iran.
America may be winning the economic war in the long run, he commented, while China, as strong as it looks "has a very brittle political system-- it's like the Soviet Union, you could just wake up one day and they'd be gone."
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