Zipline Conservative

July 25, 2009

China (Cutting Our Nose Off, Despite……)

Filed under: Communist,Foreign News — SwittersB @ 9:25 PM


A simplistic question: Why did we allow/promote the development of Communist China’s economy toward a capitalistic system that now amazingly owns us forever? How did that come about? George Herbert, Slick Willie, GW? All of them? The unintended consequences of the Global Economy. 

The United States aims to draw China more fully into helping reshape the global economy by broadening bilateral economic talks to include diplomatic issues and so recognize Beijing as a more equal partner in world affairs.

Next week’s talks with China will bring the U.S. State Department in as a partner with the Treasury Department on Washington’s side for the first time since former Treasury Secretary Henry Paulson initiated regular talks in 2005.

By expanding the dialogue in this way, the Obama administration hopes to settle China’s wariness that Washington’s motive was to keep Beijing in its place, rather than to recognize the country’s rising might.

“I see the broadening … as a way to develop a new institution in which China has a direct and key role in framing and directing the debate,” said Michael Pettis, an associate with the Carnegie Endowment for International Peace, who also teaches at Peking University.”

Uh, huhOh, Obama too?

“BEIJING — China called for the creation of a new currency to eventually replace the dollar as the world’s standard, proposing a sweeping overhaul of global finance that reflects developing nations’ growing unhappiness with the U.S. role in the world economy.

The unusual proposal, made by central bank governor Zhou Xiaochuan in an essay released Monday in Beijing, is part of China’s increasingly assertive approach to shaping the global response to the financial crisis.”


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