China has risen within the US dollar system but also been weakened by it, academic says
A leading Chinese finance professor has warned against overblown claims about China’s ability to take on the United States in a trade war, adding that it could be the start of a bigger rivalry lasting more than half a century.
In a graduation speech in the northern Chinese city of Changchun in Jilin province on Saturday, Li Xiao, dean of Jilin University’s school of economics, cautioned against “wishful thinking” about China’s economic strength and influence, saying the country was overreliant on the US dollar system.
“China’s rise is essentially a status rise within the dollar system,” Li said. “For four decades, we have benefited from the dollar system and we have also became the system’s main supporter as well as its risk bearer,” he said.
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WNU Editor: This Chinese economist's analysis is spot on. But he is holding a minority view that many in China do not agree with, starting with Chinese President Xi.
Update: Storm clouds indeed .... Storm clouds gather in China, Europe ahead of Trump’s T-Day (Gordon Watts, Asia Times).
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ReplyDeleteAizino,
DeleteYou're spot on. This may be why they still support it. Such deficit spending can't continue and the Santa Claus party as you call them are a huge benefit to them.
Like commie's care about winning a trade war!
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteI was told they were "the get what you want at no cost to you." That's a bit like "Santa Claus" as in "big brother is watching you." I come from a family and friends of entrepreneurs. The goal is KEEP BIG BROTHER OFF MY BACK AND KEEP HIM FROM CRUSHING ME!! As Such, we understand that while all of our actions may have benefits they have costs. This is part of why I became a Certified Public Accountant. Help business owners navigate the ridiculousness of government regulations.
ReplyDeleteAND KEEP THEM OFF ME!! My post appeared before I had finished.
ReplyDeleteChina will lose and is already losing. I pulled my money out about a month ago and haven't regretted it
ReplyDeletecall me old fashioned, but more often than not all side have a lot to lose in any war
ReplyDeleteOf course. But this is about principle. Imagine you have a neighbour who keeps stealing from you a lot of money, while buying himself a shiny new house and insulting you all the time and even harassing your other friends and neighbours. You get it now?
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ReplyDeleteMy neighbor does something bad to me...I call the police
ReplyDeletemy neighbor does something bad to me...i sue
my neighbor does something bad to me: we fight and we both may well get seriously injured
Smith: go forth and sin no more..you are tiresome
You do understand we're talking about a trade war, right? You've become such a leftie drone it's pointless. .I give up on you
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ReplyDelete"my neighbor does something bad to me: we fight and we both may well get seriously injured"
ReplyDeleteMy mother taught me that 2 to 1 odds were no reason to give up.
You fight, if you have to.