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John V. Walsh – China, Number One Economic Power for Half Decade

Summary:
Ignorance or Denial by the U.S. Poses Grave Dangers John Walsh says China threatens no one, and the West is making a grave mistake by turning it into an enemy.  The recent China International Import Expo (CIIE) in Shanghai attracted little attention in the Western press but it is one more reminder that China is an economic and trading powerhouse that has surpassed the US. That is right, the word is “surpassed.” The CIIE also serves to remind us that China’s economic power now stands on four mighty pillars. Americans must understand this clearly, for ultimately all power grows out of economic power, including military power. A confrontational approach to China is therefore extremely dangerous in many ways, and it is being urged on us by almost all of the ruling Elite. The

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Ignorance or Denial by the U.S. Poses Grave Dangers


John Walsh says China threatens no one, and the West is making a grave mistake by turning it into an enemy. 

The recent China International Import Expo (CIIE) in Shanghai attracted little attention in the Western press but it is one more reminder that China is an economic and trading powerhouse that has surpassed the US. That is right, the word is “surpassed.” The CIIE also serves to remind us that China’s economic power now stands on four mighty pillars.

Americans must understand this clearly, for ultimately all power grows out of economic power, including military power. A confrontational approach to China is therefore extremely dangerous in many ways, and it is being urged on us by almost all of the ruling Elite. The consequences of such confrontation are far different from aggression against Venezuela or Bolivia or Syria or Iraq or Afghanistan- or even Russia. Failure to comprehend China’s strength could lead to a mortal disaster for the U.S. – and for China and indeed the world, as Henry Kissinger has recently warned us.

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Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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