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originally
published 2/22/09
"I
certainly do think that the
Chinese government and central bank are
making a
smart decision by continuing to invest in
[United States] Treasury bonds,"
said the First Lady of Pants Suits in an interview
on a popular Chinese talk show.
"It's
a safe investment. The United States has a
well-deserved financial reputation."
Make that had
good financial reputation, Madam Secretary.
Nonetheless, having
served on the Board of Directors of Wal-Mart
—
our nation's #1 retailer of China-made products
—
Hillary Clinton's ability to discuss certain aspects
of trade between our nations might be one of the
more tangible assets that she can bring to
international diplomacy table.
When
Hill/Bill were still in Arkansas you could buy
low-priced items at Wal-Mart that were made in Sri
Lanka, Thailand, Japan and even the USA. China
was a near-pure communist country then, struggling
to feed its gigantic population while having enough
left over to keep its military strong enough to
worry the free world.
But
since China became a capitalist/socialist
republic by instinctively morphing itself back to
its commercial heritage while lessening the homage
paid to more recent socialist ancestor, huge
economic growth has taken place.
China is no longer merely a military superpower.
China has become a business giant to be reckoned
with, as well.
"It would not be in China's interest if we were
unable to get our economy moving. So by continuing
to support American Treasury instruments, the
Chinese are recognizing our interconnection. We are
truly going to rise or fall together. We are in the
same boat and, thankfully, we are rowing in the same
direction,"
the Secretary of State added.
Mrs. Clinton is right about the sudden similarity of
our nations' governments. With the inauguration of
Barack Obama an American troika was completed and,
within a month, the USA became a fraternal twin
sister to the capitalistically socialist republic of
China. America, perhaps, could be referred to
as "socialistically capitalistic" just to provide a
modicum of differentiation.
However, as the Chinese continue to row away from
their communist past our own crew is speeding toward the type of government, economy and
society that had prevented China from being successful
for such a long time.
The bad news: Without a single shot being fired it is possible, if
China continues to invest in our t-bonds, that it
could own us lock, stock and barrel in the
not-too-distant future.
The good news:
Old fashioned American capitalism would survive.
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