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ANDREW BACEVICH -We don’t need a new Cold War with China

Summary:
Americans should find the hawkish push toward a new Cold War with China deeply troubling.Note too that China is not the Soviet Union. “Xi Jinping Thought” does not represent an exportable ideology. Unlike the Soviet leaders who railed against capitalism, China’s leaders embrace it, demonstrating a remarkable aptitude for harnessing the market to create wealth. The Soviet economy produced next to nothing that American consumers were interested in buying. Today, China produces almost everything that American consumers hanker to buy, which we do using money agreeably loaned by Chinese banks Los Angeles Times  ANDREW BACEVICH -We don’t need a new Cold War with China

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 Americans should find the hawkish push toward a new Cold War with China deeply troubling.


Note too that China is not the Soviet Union. “Xi Jinping Thought” does not represent an exportable ideology. Unlike the Soviet leaders who railed against capitalism, China’s leaders embrace it, demonstrating a remarkable aptitude for harnessing the market to create wealth. The Soviet economy produced next to nothing that American consumers were interested in buying. Today, China produces almost everything that American consumers hanker to buy, which we do using money agreeably loaned by Chinese banks 

Los Angeles Times 



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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