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Down The Middle - Sep 17, 2005 - Printable Version
- Return of the Dragon
by Down The Middle
Although President Richard M. Nixon (also remembered as Tricky Dicky in some circles) will always be most remembered for the Watergate scandal and his subsequent resignation to avoid impeachment proceedings, he will also be remembered as the President who "opened the door" to China in 1972. Considered one of the premiere events of the second half of the 20th century, Nixon not only opened a dialog with our much dreaded communist enemy of the Korean War, but also opened up our markets to mega-millions of Chinese consumers, creating the opportunity for an economic boom with American corporations. At least, that's the way it was supposed to work. Unfortunately, it wasn't long into the relationship before the realization set in that the Chinese weren't spending money with us.....we were spending money with them. We kept opening the door to our free market and they kept slamming theirs'. Now, after more than three decades of "trade" (I always thought trade was an actual "exchange" of goods), we find ourselves with another record trade deficit, and absolutely no sign of a correction on the horizon, mostly due to companies like Wal-Mart, who's concerns are not with the good of this country....but with their own company's bottom line.
Thanks to the abject greed and shortsightedness of our politicians and CEOs, we have not only allowed...but indeed, have actually financed the creation of the new industrial and technological might of this once sleeping dragon.
To compound the situation, China has now become the second largest holder of U.S. debt, to the tune of almost 200 billion dollars. In effect, they are loaning our own "Wal-Mart money" back to us...and we continue to run up the balance, just so the Republicans can have their war and keep their taxes, too.
But it's not only the Republicans. This deal began going bad the moment it was done, and has continued to cost us, every day since, with almost all of our Presidents and Congressmen of the last thirty years continuing to tout the great positives of the "free market". By the 1990s, it had spiraled out of control, to the point that, when asked about protectionist measures to resist the ever-widening trade imbalance, Bill Clinton admitted that, "It's hard to get tough with your banker". So, to this very day, we continue to allow China to take full advantage of us in the market place, as they grow into the next superpower...and we go down the tubes.
Then, there's the oil (there's always the oil). Along with China's industrialization comes a greatly increased appetite for energy, to where they are now a major consumer/competitor with the U.S., as well as the other large importers...and at a time when known reserves are on the decline. Of course, our neo-con politicians have an answer for all of this. We'll just "kick their ass and take the gas". Then, we cannot only supply the unquenchable, oil guzzling thirst of our own nation but also control the amount of oil that China could obtain.
That's a good idea! I wonder if China will go for it? I guess it doesn't really matter what "they" think, as long as we capture the oil.......right? Well, actually...with the recently completed, 100 billion dollar energy deal between China and Iran and their subsequent talks of military cooperation.......yes, I think they might object.
Should we blame the Waltons, and other major stock-holders, for making a killing by bringing us the cheaper products that we crave, all the while ignoring our country's economic health? Yes! Should we blame the politicians for deserting the people, choosing instead to serve the short term corporate interest? Yes! Should we blame ourselves for selling out our friends and neighbors in downtown America, just to save a buck on sundries and a whole lot of other things that we could probably live without. Yes! Can I ever go back to Wal-Mart and buy that less expensive (as well as lesser quality), "Made in China" import, without thinking that I just bought another bullet for a Chi-Com (Chinese communist) AK47 that will soon be pointed at an American soldier. No!
George Carlin once said, "A house is where you keep all your crap, while you're out getting more crap". In this one silly line, he summed up the wantonness of consumer America. Like all empires, we have spoiled ourselves into defeat.......and like all empires, we are falling away.
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