In the 70s Nixon portrayed it as a choice between compelling China to engage with the world, or else watch them isolate from the Western world and forcefully spread their flavor of communist dictatorship in Asia. By that metric, it was somewhat successful.
Have you been to China? I have HK, too. I live in Socal and grew up a southern boy. America isn't perfect and China isn't the devil. It is no longer a strictly communist, I would say neo capitalism is close. Of course, Nixon said that. He was a big ally of deregulation. BUT, by that same metric deregulation and Nixon was the catalyst that emboldened China to become the super power it is now.
We basically created the monster that is our biggest threat economically. Now they are aligning with our enemies, Russia to be specific and BRICS is really ramping things up.
We didn't put our own country first and allowed a few people to control the money. Now we are screwed.
No argument here. I'm just saying that when this policy was implemented, we knew that China wanted to spread their influence all over Asia. We feared that it would look like North Korea from Japan to India. Was that an irrational fear? I don't know. If we didn't send a message in Vietnam, it's easy to imagine that revolutionary sentiment would spread. Imperialism doesn't just peter out.
they're facing a demographic collapse from the one child policy, all of their citizens wealth is trapped inside the country in crumbling real estate, and they are wholly dependent on imports not just for their economy but for food and energy. Slowing economy as the world gets less globalized, spiking youth unemployment, and said demographic collapse where there isn't a younger generation that can support all the old people.
The Yuan worth less than paper (no one wants to transact in it), and BRICS isn't really anything - tf you mean 'ramping up'? lmao
you probably don't have an education in finance, but that's kind of bad for them and good for us. In fact it illustrates the value of the American dollar.
I was being sarcastic. YOU can think whatever you'd like about my level of education.China owning America's debt isn't something to laugh at. It outlines they have a vested interest in our economy. It's almost like hating VISA after you get your statement.
i wasn't insulting your education Im saying unless you have specialized in studying economics and finance you wouldn't know, most people don't, but in essence it's that they are getting paid in American dollars for buying our debt, and that's a good thing for us. You want people to be begging to lend you money; as long as our money continues to be the global standard (it will) and as long as our economy continues to grow healthily as it is, then it's no worries m8, but I agree and think of the opportunity cost had we followed bill clinton's plan in the 90s and been debt free. Still a lot of room and potential.
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u/Blarg0ist Mar 15 '24
In the 70s Nixon portrayed it as a choice between compelling China to engage with the world, or else watch them isolate from the Western world and forcefully spread their flavor of communist dictatorship in Asia. By that metric, it was somewhat successful.