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Zero Hedge: Here's When China Will Win The Arms Race With The US, And How BofA Is Trading It
For all the talk of the escalating confrontation between the US and China, Bank of America's Mike Hartnett writes that the "trade war" of 2018 should be recognized for what it really is: the first stage of a new arms race between the US & China to reach national superiority in technology over the longer-term via Quantum Computing, Artificial Intelligence, Hypersonic Warplanes, Electronic Vehicles, Robotics, and Cyber-Security.
This is hardly a secret, as the China strategy is laid out in its “Made in China 2025” blueprint: It aims to transform “China’s industrial base” into a “smart manufacturing” powerhouse via increase competitiveness and eroding of tech leadership of industrial trading rivals, e.g. Germany, USA, South Korea; this is precisely what Peter Navarro has been raging against and hoping to intercept China's ascent early on when it's still feasible.
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WNU Editor: On my last visit to China a few years back I asked a friend of mine who works for the Chinese foreign office on how long will China continue to increase its defense budget. His answer .... until we the past the U.S. defense budget and beyond. I did not take it seriously then .... but now .... I certainly do. As for the above graph .... the projected year that China will surpass the U.S. military in spending will be in 2038.
5 comments:
Im playing a war game atm and im suppressing China with ease as i control the seas. Their production is halted and their manpower getting shredded by arterially. China would need to combat the USNavy, which is why they want hypersonic weapons. This pretense would mean China has about 5 years until they are capable of combating the USA. I would argue if they wait longer then that they would never break out as a dominating world power.
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It takes more than money to win battles. US military has been in almost constant battle since the 2001 in one form or other. When was the last time China had any military operation?
My observations:
1. You cannot bully someone in to liking you. This is what China tries to do with most countries (once the aid package or FTA has been signed).
2. In regards to the Social Credit system. Chime sends out hundreds of thousands of young students to study oversees. I, for one, have hosted two young ‘kids’ from China for their tertiary education. In short, they don’t want to go back once they’ve experienced the freedoms and lack of govt control (and like Mr WNU, in private they too hate the System).
3. Ever week I drive past the Chinese consulate. It’s always empty. I used to work in the same building as the US consulate. That place was humming with people wanting to move there, queuing from first thing in the morning. They only people I see queuing outside the Chinese consulate are silent Falun Gong protesters. My point; I have yet to meet anyone who says that they can’t wait to move to China. Product China is something no one want to buy.
4. My kids go to a good school. It’s 30% Chinese ‘fresh off the boat’ types. All of them are fighting to stay here and never return. All of them.
Control, domination and threats do not serve China’s long term interests. .
Their intention? Keep the CCP in power. But the more their youngest and brightest are exposed to the world outside China the less likely they Party will survive long term.
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