I've already posted this elsewhere about a week ago, so this is a little bit of old news.
China's Central Bank Hits Brake on Hot Economy. Chinese economy expanding while Western economies are failing or on the brink of sliding back into a recession....
Global Business >> NewYorkTimes
Lately, there has been much publicity on China v Google & Taiwan and threats by China to discontinue diplomatic and trade relationships with the US. Recently economists have predicted (Chinese 10% , Western 12%) that China's economical growth is for the first time in history, acting as a major engine pulling the rest of the world out of recession. "At the same time, if China brakes too hard, it risks slowing global growth overall and throwing other countries, including the United States, back into recession."
I find this disturbing as well as somewhat ironic. European, US, Canadian and other Western countries are depending on economic choices by China. What will this bode for International politics, including human rights issues currently in debate, mostly through Hillary Clinton.
The irony I have yet to mention, is the Western's criticism and seemingly threats to discontinue trade with the "Great Wall" and "Great Firewall" of China, will only tend to undermine our own economy. It would seem that now more than ever, The World is depending on Chinese exports, banking and other economic factors.
At issue here:
1. Western predictions of falling economies and nations sliding back to recession.
2. Accusations of a purposeful attempt by the Chinese government to control World Economy on it's own terms.
I don't think there's much we can do at this point but wait as China continues to move it's resources further and further into the mainland, making it very difficult to impossible for foreign nations to make requests from Chinese banks for loans.
Any thoughts?
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