China’s trillion-dollar plan to dominate global trade
China has embarked on the most ambitious infrastructure project in modern world history. It’s called the Belt and Road Initiative (BRI), and it spans three continents and covers almost 60 percent of the world’s population. It’s how China plans to become the world’s next superpower.
The BRI essentially has two parts. The first, the economic belt, is made up of six corridors that direct trade to and from China. These corridors include roads, railways, bridges, power plants — anything that makes it easier for Europe, Asia, and Africa to trade goods with China. The second part, the maritime silk road, is a chain of seaports from the South China Sea to the Indian Ocean that direct maritime trade to and from China.
China is loaning trillions of dollars to countries willing to host these projects. They’re promoted as a win-win for everyone. Many of the countries involved need new infrastructure and access to new markets, while China needs new projects for its growing construction industry. But many of the countries involved in the BRI are authoritarian, corrupt, and in conflict — risky places for China to invest money in.
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by Sam Ellis
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On the one hand, we have a rising international power with a long-term vision for the future.
On the other hand, we have a declining kleptocracy, governed for the immediate benefit of a tiny plutocratic minority.
Wanna take bets on the winner?
I think I chose the winner.
Economics is just math but Trump's flat earth alt-right administration does not believe in math. So sad, really.
With trillion dollar deficits again and the stock market already in correction territory Trump's recession begins.
The March jobs numbers were abysmal and interest rates are rising. When the bubble bursts everyone loses...
Between the Saudi oil embargo and Carter's grain embargo you would think we all had enough of trade wars.
They are raising interest rates in an attempt to slow the economy because the Fed is concerned it is overheating and running too hot. The employment figures are at what is traditionally considered full employment. You're not going to see many additional jobs added when you no longer have a large number of unemployed.
Saying the U.S. economy has strengthened in recent weeks, new Federal Reserve Chairman Jerome H. Powell suggested Tuesday that the central bank could hike its key interest rate faster than anticipated. Powell said he and his Fed colleagues will try to balance stronger growth with the potential for "an overheated economy" now that "fiscal policy is becoming more stimulative" with tax cuts and increased federal spending.
Do you have anything relevant to the seed, Dean ?
Excellent article.
This is what is called forward thinking, something that the Chinese are doing in spades. As their influence grow and spreads more and more countires will fall under their influence, even Russia. Russian has little in the way of exports except gas and oil...Russian has increased their shipment of gas/oil fourfold to Russian...The other thing that is critical and a hell of an advantage their are moving over a land route.
Another area that they have over taken us is in high tech exports. Between 1999 and 2015 China's share of high tech exports has risen from 5% to 25%. The U.S. in that same time period from fallen from 20% to 5%..
China is also eating our lunch in terms of education in the STEM sciences.
China is growing their economy and influence, while Trump is destroying the American economy and influence as a world leader on an hourly basis. His minions blindly follow his lead like blind sheep following the bell of the fox right over the cliff.
The sad part is, it is not only Trump and his minions who will suffer the consequences, but, all the American people and our allies.
America is not a reality show with only one person in charge, nor one of Trumps businesses that is ultimately to fail. He can't see past his own ego and feeling of self-importance. In the end, he will find his legacy in the dumpster as one of the worst in the history of the US.
Of all the Republican candidates that could have done a much better job, the GOP picked the worst of the lot, and now they are stuck with him and the destruction he is doing to their party.
My opinion.
While Trump's policies are wrong-headed, I don't think they're the essential point.
America is ruled by Big Business, which fixates on short term financials. China is ruled by the Communist Party which fixates on the country.
(Well.. in both cases, individuals are fixated on their own personal future, but that balances.
)
China is also influenced by big business, both at home and abroad. They don't really care about the welfare of their own people or their country any more than the current GOP.
However, unlike China, we are not stuck with, and at the mercy of, a lifetime dictator. At least not yet. If Trump could have his way I am sure that would happen here in America as well, with him as the dictator.
But, that is only Trumps fantasy dream. All Americans are not sheep to be easily led over the cliff at the whim of a self-imposed dictator in a sheep costume.
During the years that I've been here, China has been steadily improving the lives of its peasantry/farmers. It may still have a way to go but at least it's working at it. As well, the middle class continues to grow quickly. However, China does not tolerate corruption and criminals, and for sure terrorists who are very quickly eliminated.
If there is no corruption in China, then why did the leader of China recently declare himself as the Dictator for life? What is he so afraid of?
As for the peasantry, I'd like to hear how well off they are now from their own mouths. The only criminals that are being dealt with are those who are not within the Dictators inner circle. The worst ones are still in charge.
And no, I don't live in China like you do, but, I do read, and I can think for myself as well. If all is a wonderful as you say, then why are there so many poor people who are starving and children dying from lack of health care?
China is anything but a role model for a people that are well cared for by their benevolent government.
You're not aware, but I am, that some VERY powerful and highly positioned officials have been arrested and charged with serious offences, mostly dealing with bribery and embezzlement.
Can you show me some unbiased statistics about that with comparisons to other countries?
" Can you show me some unbiased statistics about that with comparisons to other countries?"
Perhaps you don't get out to the rural and extended areas of China. As far as unbiased statistics goes, there are no such things, as whatever statistics I might provide could be rejected by you and/or others as being biased. So why not look up the statistics from your own choice of sources. Then you can't blame me for trying to provide biased statistics.
China's 60 million "left behind" children is a good example of what life in the rural areas is like for these children.
Source:
However, you may consider this source 'biased'.
No, I'm not going to say your source is biased, because I'm sure the journalists didn't specifically seek out sensationalist situations where the children are left entirely on their own, right? or that they don't have grandparents or other relatives to look after them, right? - I do see injustices here in China, but I also see them everywhere - no country is perfect.
In China it is quite common that both parents work. Somehow I don't think that's so unusual these days in western countries as well, including yours. In China, it is customary for the grandparents to look after the children - so the insinuation that ten million children are left on their own is somewhat prejudicial. Let's look at numbers. Ten million children is 0.007% of the population of China. I don't have figures to compare that with the USA. It is also insinuated that the children cannot afford an education, whereas the story also says that the parents send back sufficient money for that. And as well, are ten million children starving? Perhaps some are, but why is that so different than elsewhere?
Indeed that is quite common here in America as well. As you said, and I agree, that no country is perfect. Here in America there are a large number of 'latch key' children as as well. They are the children whose both parents work and the children are left on their own until the parents come home, unless there is a guardian to watch over them. The difference is that the majority of the parents don't have to travel hundreds of miles away to their jobs and have to stay gone for long periods of time leaving the children to fend for themselves.
But, I do agree that China has made some much needed efforts to improve their country over the years.
Now there is a notion I can get behind fully.
We are falling behind, in leaps and bounds, with Trump as our president.
We've been falling behind ever since 1995, when the CEO's of the major corporations found that they could use coolie labor to break the unions (and every President since then has allowed it to happen by refusing to enact tariffs). About time one of them grew a set.
The decline of the unions marked a decline in America's middle class. Yet the republicans want to destory all the unions except when it suits their agenda...
The unions were formed for a reason that many seem to have forgotten. Many of the benefits that employees enjoy today were the work of the unions.
They haven't outlived their usefulness, if anything, it's need more today than ever.
Yes!
The middle class is declining because more people are moving into the upper class and that’s a good thing.
The unions are a big part of the reason so much is built in China they have priced themselves out of the global market. They have destroyed manufacturing here in the US.
Always blame the unions, Dean...Of course the corporations didn't have anything to do with it. How about automation..
On one hand you support absolute free trade, no tariffs, and on the other hand you blame the unions for driving business off shore..LMAO, make up you mind. I guess you'd be happy if everyone made $6 per hour...
Geez...You need to get a new gig.
Much more at stake here than Global Trade Domination.
In China, slowly but surely the air is getting cleaner and the water is improving. China is going Solar and Renewables. They have began recycling everything, creating tens of thousands of jobs.
The US appears to be retrograding back to coal and oil. Their future is in the past and the past has passed.
Even Saudi Arabia is transforming itself away from OIL and into Solar.
Whatever. We have Trump and Trumpism. Some will benefit and some will not. I personally do not believe America will be a beneficiary.
China is doing well because they are willing to do the work for less money. The unions and many American workers would rather lose the work than do it at a competitive price.
Six bucks an hour for everybody, huh?
Pulling us out of the TPP only gave China another leg up in the Region. Mr. Trump may want to re-evaluate his position.
And so should the voters.
Apparent Trump reversal on TPP trade deal stuns both sides
What he heard was the farm states telling him he doesn't have any idea of what he's doing with the tariffs...