> Yellen: A growing China that plays by the rules can be beneficial for the United States.
I presume this is political smoke blowing. But if she's serious then she's naive.
China knows it has the upper hand at this point. It has little interest in playing by the rules for that very reason. It's going to play by rules that benefit it and its expending relationships (e.g., in Africa).
This "if" has been the same political if all along. And 50+ years on it's still an if.
I'm no economist, but access to markets seems to be the thing that the US was important for. Nowadays not as much so though still true. The trick is to still have access to markets other than NA, such as EU, India, Africa. Can't afford to lose all the US/western-aligned markets.
They have less to lose. Our socio-political system is "frayed". If the dissatisfaction continues the USA continues to erode. China continuing at second world levels...well, they're already used to that.
At the same time, the USA hasn't announced anything a fraction as ambitious as the New Silk Road. While the USA is all in with Ukraine (i.e., yet another resource-sucking war), China is building relationships in Africa.
Etc. Etc. Etc.
The evidence you're looking for isn't so much what you're seeing, but more of what you're not.
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[ 3.6 ms ] story [ 14.5 ms ] threadI presume this is political smoke blowing. But if she's serious then she's naive.
China knows it has the upper hand at this point. It has little interest in playing by the rules for that very reason. It's going to play by rules that benefit it and its expending relationships (e.g., in Africa).
This "if" has been the same political if all along. And 50+ years on it's still an if.
Based on?
At the same time, the USA hasn't announced anything a fraction as ambitious as the New Silk Road. While the USA is all in with Ukraine (i.e., yet another resource-sucking war), China is building relationships in Africa. Etc. Etc. Etc.
The evidence you're looking for isn't so much what you're seeing, but more of what you're not.
China has the upper hand.
>It has little interest in playing by the rules for that very reason.
I suspect 90% of the world is having a private discussion about "the rules" they were forced to agree to while having a gun to their heads.