The Chinese will eventually attain plenty of champions and apologists in the West, as China’s reach extends ever wider. For example you will already come across people in scientific academia who will fight every attempt at any challenge by the West to China, because they are afraid the money pouring in to nudge institutions into pro-CCP lines, which they have rather got used to, might just dry up, not to mention those complimentary upgrades from standard to first class on the odd soujourn also drying up. And the indications already are several Tory MPs are close to ‘bought out’ by the CCP I would say.
Perhaps we are at the point where political writers, like financial advisors, should be required to declare any vested interests up front, so we can filter what they are saying through the correct lenses. Because many pieces these days sure as hell don’t make sense as independent stand alone investigations.
I mostly disagree with you on situation in Ukraine, but your comments about Chinese capture of uk universities and financial institutions are on the money.
I would go as far as suggesting that there ought to be a pause of sorts in battling Russia, China or any of those other enemies of the West in the ”Great Game”. The biggest threat to the West, now at least, is Wokeism. Its all well and good to fight for freedom elsewhere. But one should perhaps safeguard it at home even more tenaciously.
Yes, Wokeism is a threat, but at the moment fighting Russian aggression of Ukraine is most immediate and important.
Your suggestion of pause suggest that you are Russian stooge.
Russell Hamilton
2 years ago
True, the U.S. is grossly indebted (as many Western countries now are), but the Chinese economy isn’t doing too well either. Their housing/construction sector is in a crisis, demography isn’t doing them any favours, and COVID is a real threat. All in all the global economy seems pretty fragile.
Alan Groff
2 years ago
It seems the logic is backwards, if China holds US money, the US can freeze it and cause trouble in China, which is using greater operational leverage and financial leverage. The US has big problems but it’s the cleanest dirty shirt so crises will tend to strengthen its currency as the Ukraine war has done.
Exactly.
Anyone claiming that financial system arranged around Chinese interests is better than current one is deluded.
David Uzzaman
2 years ago
The author is correct this isn’t the time to start a economic war with China. The best time would have been twenty years ago. The second best time is now. Our attempt to change China by trade has failed all we have succeeded in doing is massively strengthening or enemy. Reducing their strength is going to be a painful and protracted process but the sooner we start the better.
Why is it impossible?
That is what globalisers claim.
China was not relevant to the West even 20 years ago.
The only people who benefit from globalisation in the West are billionaires and their enablers.
Maybe 10% of people.
Yes,i accept that they control levers of power.
But surely even they don’t want to leave China dominated World to their children and grandchildren?
I don’t have kids, so I have no skin in the game.
Impossible actually means ‘impossible’, not politically and economically difficult.
Samuel Gee
2 years ago
Quite right. Whilst both Russia and China need to be dealt with now is the time to split them apart as far as possible rather than uniting them in common cause.
Great idea, I agree.
How do we achieve that great goal, though?
Any sensible government in Russia would see obvious dangers of aligning with China.
But gangsters running Russia do not act in long term interest of Russia.
What would be the price of persuading Russia to change sides?
Ukraine, Baltic States, Poland?
It didn’t work with Hitler, it will not work with Putin, sorry.
Tom Watson
2 years ago
Jesus, the ‘Curb CIPS’ act. I swear they actually put more thought into the names of these bills than the content of them.
Warren T
2 years ago
As if printing $5 trillion over the last couple of years is not enough to risk its financial credibility. But at least the U.S. debt to GDP ratio is still well below China’s 300%.
I’d like to know where the author will be putting his money?
John Hicks
2 years ago
Not a convincing article. Democratic and Autocratic contrasting values suggest now is precisely the time for an economic war with China. Putting it off is, I think, a far more terrifying option with the curtain-raiser currently being played in Eastern Europe.
The Chinese will eventually attain plenty of champions and apologists in the West, as China’s reach extends ever wider. For example you will already come across people in scientific academia who will fight every attempt at any challenge by the West to China, because they are afraid the money pouring in to nudge institutions into pro-CCP lines, which they have rather got used to, might just dry up, not to mention those complimentary upgrades from standard to first class on the odd soujourn also drying up. And the indications already are several Tory MPs are close to ‘bought out’ by the CCP I would say.
Perhaps we are at the point where political writers, like financial advisors, should be required to declare any vested interests up front, so we can filter what they are saying through the correct lenses. Because many pieces these days sure as hell don’t make sense as independent stand alone investigations.
Does that include this piece ?
Please let us know.
Yep. Hallmarks of a pro-China line can be seen, even if somewhat soft-peddled.
I mostly disagree with you on situation in Ukraine, but your comments about Chinese capture of uk universities and financial institutions are on the money.
Very insightful…!
I would go as far as suggesting that there ought to be a pause of sorts in battling Russia, China or any of those other enemies of the West in the ”Great Game”. The biggest threat to the West, now at least, is Wokeism. Its all well and good to fight for freedom elsewhere. But one should perhaps safeguard it at home even more tenaciously.
Yes, Wokeism is a threat, but at the moment fighting Russian aggression of Ukraine is most immediate and important.
Your suggestion of pause suggest that you are Russian stooge.
True, the U.S. is grossly indebted (as many Western countries now are), but the Chinese economy isn’t doing too well either. Their housing/construction sector is in a crisis, demography isn’t doing them any favours, and COVID is a real threat. All in all the global economy seems pretty fragile.
It seems the logic is backwards, if China holds US money, the US can freeze it and cause trouble in China, which is using greater operational leverage and financial leverage. The US has big problems but it’s the cleanest dirty shirt so crises will tend to strengthen its currency as the Ukraine war has done.
For how much longer ?
In your view, debtors are more powerful than their creditors.
Which is news indeed.
Doesn’t it depend how much debt you have?
Exactly.
Anyone claiming that financial system arranged around Chinese interests is better than current one is deluded.
The author is correct this isn’t the time to start a economic war with China. The best time would have been twenty years ago. The second best time is now. Our attempt to change China by trade has failed all we have succeeded in doing is massively strengthening or enemy. Reducing their strength is going to be a painful and protracted process but the sooner we start the better.
“Painful and protracted.”
Impossible, in fact.
Like the bellicose senators, you suffer from the delusion that the West is still boss.
Why is it impossible?
That is what globalisers claim.
China was not relevant to the West even 20 years ago.
The only people who benefit from globalisation in the West are billionaires and their enablers.
Maybe 10% of people.
Yes,i accept that they control levers of power.
But surely even they don’t want to leave China dominated World to their children and grandchildren?
I don’t have kids, so I have no skin in the game.
Impossible actually means ‘impossible’, not politically and economically difficult.
Quite right. Whilst both Russia and China need to be dealt with now is the time to split them apart as far as possible rather than uniting them in common cause.
Need to be “dealt with” ?
Like a pupil being caned by an old-fashioned headmaster !
No, we’re the ones likely to be caned.
You seem to have a difficulty with the concept of taking action against our authoritarian / totalitarian enemies rather than appeasing them.
Great idea, I agree.
How do we achieve that great goal, though?
Any sensible government in Russia would see obvious dangers of aligning with China.
But gangsters running Russia do not act in long term interest of Russia.
What would be the price of persuading Russia to change sides?
Ukraine, Baltic States, Poland?
It didn’t work with Hitler, it will not work with Putin, sorry.
Jesus, the ‘Curb CIPS’ act. I swear they actually put more thought into the names of these bills than the content of them.
As if printing $5 trillion over the last couple of years is not enough to risk its financial credibility. But at least the U.S. debt to GDP ratio is still well below China’s 300%.
I’d like to know where the author will be putting his money?
Not a convincing article. Democratic and Autocratic contrasting values suggest now is precisely the time for an economic war with China. Putting it off is, I think, a far more terrifying option with the curtain-raiser currently being played in Eastern Europe.
Yeah, it’s always best to fight your most powerful enemies simultaneously !
Russia a most powerful economic enemy? Of?