So China has led the march on the US economy. I remember wondering, 10-15 years ago, why China helped shore up the US economy? They were buying US debt and kept the Yuan pegged at an artificial level. Even at that younger age, I was cynical enough to ask, why? And today brings that answer to us. With this particular set of circumstances, China may have hammered the final nail into the coffin of US dominance in world economics. And where will this lead us? A weaker US will feel the heat where it hurts most. How will they support their various ill advised wars? How will they continue to influence the world from this weaker position?
The Chinese are nothing if not master long term strategists. I believe they have been waiting for this very day for decades and it has finally arrived. And right on cue, they denounce the US when it's down. Remember S&P only downgraded the US a few days after the Chinese government owned ratings agency downgraded the US. You'd think it odd that the US's largest creditor, which would have an interest in maintaining the desirability of the US securities they hold, was so quick to downgrade it. But it does not surprise me at all. China have 'bought' a US economic collapse over the last couple of decades. It's a master stroke. No war, no loss of life and they've accomplished something which an Islamic terrorist could never do - hurt US interests in a very tangible manner.
At this stage, we MUST remember who helped the Chinese in their endeavors. It was the Bill Clinton government that turned a blind eye to Chinese transgressions. Bill Clinton is credited with the 'It's the economy, stupid' line of thinking. Pandering to China, even going so far as to ignore Chinese spies stealing nuclear and military secrets, the nation must now pay the price for this near sightedness.