Reading China Daily

The Official newspaper of the Government of China, the China Daily is published in several languages and brings news from China that indicate where the Chinese Communist Party is taking the country. News Items prior to the G20 in Korea indicated through a series of interviews that the People's Republic of China was not about to help the USA with its current financial problems, senior official stated that they knew in advance that the Western Press would make much of the current undervalue of the Yuan or Renminbi the official currency of China but for them the G20 meeting was about much more than that, inasmuch as the value of the Yuan is not really a pressing concern for the Chinese Government. What they wish to talk about is more global issues on trade. Then after the G20 meeting the White House and the Western Press were talking about how the meetings had not gone well and how China had said little about the value or letting the Yuan float to a higher level against the US dollar. The real message which was not carried by the Western media was that China and Russia are about to drop the dollar as a currency in which they conduct foreign trade. The Chinese believe that the US dollar is a weak currency brought down by massive debt and the US President is not able to be decisive and is now weaken by a Republican Congress. The Chinese are not interested in weak leaders or countries with big debts and since China owns much of the US credit debt it is now unloading it around the world. Then on the 24 and 25 November articles in the China Daily announced that Premier Wen of China and Premier Putin of Russia had concluded an agreement to use each others currency when doing bilateral trade. This is a powerful signal that the US dollar is no longer considered by China as a strong currency and that they do not intend to allow their currency to reach a higher value against the US dollar. For the USA this chess move is a signal that the end game as started, China intends to replace the USA as a dominant economic force and that the USA will not be able to surmount the numerous economic problems facing it.

China has started to dump US dollars and buying other currencies weakening further the US dollar and by creating its own consumer class in China (about one billion people) they will no longer need the USA for its own goods. For China trade partners now are Brazil and India, Russia the old ally of the cold war.
Leave the Americans to their troubles with war on terrorism, Afghanistan, Irak, North Korea and its Nuclear Program, Iran and the Middle East issue, and its economic woes, in other words enough on the US plate to exhaust completely the rival. The Chinese Communist never forgave nor forgot that the USA supported Taiwan and the Nationalists against the Communists nor the humiliation of years of being snubbed by the USA until Kissinger and Nixon finally decided they could recognize China. The recognition though came but not on American terms.

Unfortunately no US politician will have the courage to point to the coming years of difficult economic reality at home, no one is willing to believe despite all the signals that this is happening.  The sun is finally setting and in ten to fifteen years time, a short time really, China will be telling the USA what to do.  By running after too many rabbits at once the US has exhausted itself. In the meantime China continues to invest massively in Africa, South America and Europe. It has already come to the rescue of Greece and is doing so in many other countries, eclipsing the USA. China has the money and loads of cheap labor, the signs have been there for years but no one paid attention. It is worth reading China Daily to know what is happening or where things are going.