Saturday, September 01, 2018

For all its faults, the US is not China.

"Whether China does become a superpower and whether it could sustain the costs involved are questions that could impact the world for decades," wrote M Champion. If it does become a superpower it will be "Anything but America" according to Wang Wen, dean of Chongyang Institute for Financial Studies at Renmin University of China in Beijing. True. The US spends around $50 billion, or just over 1% of its federal budget, on foreign aid. The Marshall Plan under which the US spent $15 billion, or 5% of its GDP, to rebuild Europe, including Germany, after World War II is an example of generosity of the US. After independence India required US food aid on many occasions, but felt humiliated to be asked to support the US against the Soviet Union. The US was right. The Soviet Union collapsed in December 1991. China gives loans to other nations in an effort to subjugate them. "Its soft power is undercut by its militarization of the South China Sea and concerns that its offshore infrastructure loans are just debt traps that will bind smaller nations to its will." These  concerns are highly justified as the tiny Pacific island of Palau has experienced because of its relationship with Taiwan. Sri Lanka was forced to hand over Hambantota port to Chinese companies because it was unable to repay Chinese debt. China is building houses and roads in the north of Sri Lanka to further bind that country to its sphere of influence. Repayment of Chinese loans is reaching 59% of Ethiopia's GDP. People get scared by China's size, according to Wang but all China wants is a more inclusive globalization. "There's not a magnanimous bone in China's body politic. It's all about China," said Jim McGregor, chairman for greater China at the consulting firm APCO Worldwide. "Name a country that's a true friend of China." Maybe Pakistan. Pakistan should beware of taking loans from China to support its economy which is in real trouble, wrote Shuli Ren. China is building a city in Gwadar port in Pakistan to house half a million Chinese nationals to operate its financial center. Countries that accepted Chinese offers of help are starting to realise that the infrastructure projects will be controlled by China. Malaysia wants to renegotiate various projects that were agreed with China because they are too expensive. Prime Minister Mahathir Mohamad called it 'new version of colonialism happening because poor countries are unable to compete with rich countries". If China is a danger to other nations it is brutal with its own people. It has taken surveillance to a new level with facial recognition technology. Hopefully the cancer of 'Chinese characteristics' will kill it. From inside. 

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