posted this on 03/28/2011
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Bob Chapmans Friday Report Foreign Dependency - Part of Game The US is Playing 33
Posted by TwitC
Chinese President Hu Jintao has come and gone. During that visit we saw no discussion concerning human rights, as demonstrations and riots continue in China, nor was there any discussion of trade and business practices. How can presidents not discuss economic and financial developments and policies when China is the largest world exporter? We are sure they were discussed, but behind closed doors. It was as if everything was scripted and the media colluded completely. It is important to remember China has a predatory communist government. Their economic and monetary policies are similar to the Keynesian philosophy practiced in the US, a corporatist fascist program. As a result of the use of what can be considered forced slave labor and currency manipulation they control a good part of world trade, particularly with the US. As a result China has a $2.85 trillion foreign exchange surplus and holds about $900 billion in US dollar reserves. In fact, as a result, China has some of the very same bubble problems that America has. China is booming and the rest of the world is not. That is due to investment deals with mainly US transnational conglomerates. Free trade and globalization fit these partners just fine, but none of this is supposedly discussed, nor is the loss of 8.5 million jobs over 11 years, as well as the loss of 42,400 businesses. Thus it will be safely tax-free in offshore tax-free locations. The unleveled playing f...