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China is still a long way from being a superpower

Summary:
Beijing may lack the ambition needed to develop a global military presence that rivals the USChina is an economic power-house, but they may find it to be too much of a burden and too expensive to be a world superpower. When you look at how they are revamping their country, who wouldn't be more tempted to spend the money on themselves and have a nice environment to live, rather than having the world's biggest military many times over. China has not fought a war since it clashed with Vietnam in 1979 and boasts of its “peaceful rise”. Unlike the US, Beijing has also historically been very reluctant to promise to defend its friends and allies. China has only one overseas military base in Djibouti in east Africa, compared with hundreds of US military facilities overseas.Financial TimesChina

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 Beijing may lack the ambition needed to develop a global military presence that rivals the US


China is an economic power-house, but they may find it to be too much of a burden and too expensive to be a world superpower. When you look at how they are revamping their country, who wouldn't be more tempted to spend the money on themselves and have a nice environment to live, rather than having the world's biggest military many times over. 

China has not fought a war since it clashed with Vietnam in 1979 and boasts of its “peaceful rise”. Unlike the US, Beijing has also historically been very reluctant to promise to defend its friends and allies. China has only one overseas military base in Djibouti in east Africa, compared with hundreds of US military facilities overseas.


Financial 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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