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China, and New World Order


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China slams debt crisis, calling for 'new world order'

 

(NBC News Oct 15, 2013)

 

China state media blasts US shutdown, calls for a 'de-Americanized' world

 

By Ed Flanagan, Producer, NBC News

News analysis

BEIJING –With days to go before the United States debt default deadline, Beijing aired its frustrations with the shutdown Sunday, saying it was time to consider a “de-Americanized” world order.

 

With $1.28 trillion in U.S. Treasuries, China is easily the biggest foreign holder of American debt.

China has also funneled billions of dollars into private American investments – to the tune of an estimated $54 billion in 2012 alone.

 

“As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world,” according to a stinging op-ed article by state news agency, Xinhua.

 

The article, published Sunday, conveyed Beijing’s frustration with the spending and debt impasse that has paralyzed Washington for more than two weeks.

 

"Days when the destinies of others are in the hands of a hypocritical nation have to be terminated, and a new world order should be put in place, according to which all nations, big or small, poor or rich, can have their key interests respected and protected on an equal footing,” the piece added.

 

Should Congress not come to an agreement by Thursday’s deadline on a new raised debt ceiling – the upper limit set by Congress on the amount of money the Federal government may borrow – China’s potential losses stand to be devastating.

 

Prior to Sunday’s commentary article, Chinese officials had been more measured in their analysis of the U.S. budget impasse. Last week, Vice-Finance Minister Zhu Guangyao  noted only that “we have to see that the clock is ticking.”

To many in China, the restraint on the part of China’s ruling Communist Party over its second-largest trade partner’s government problems was perhaps based in the belief that neither party, Democrat or Republican, would allow the U.S. to not honor its financial obligations.

 

“If we are really rational, I cannot imagine why someone would dare to bear this kind of responsibility because any real default will have a huge impact not only on the U.S. and China, but on the global economy,” said Professor Zhao Longkai, a dean at the Guanghua School of Management at Beijing University. “It’s hard for us to imagine anyone can be that crazy to push the limit to that level.”

 

Zhao said the patience China had shown until recently was rooted not only in Beijing’s confidence in America’s ability to deal with the budgetary crisis, but also its own burgeoning self-confidence.

 

TODAY financial editor Jean Chatzky and CNBC's personal finance expert Sharon Epperson explain how a U.S. default may impact your investments, credit and job.

 

“For average Chinese people [the budget crisis] is a show there and we’ve seen it before… we also know that it's not only the United States that we are relying on, we have a lot of other investments,” Zhao said. 

 

The Xinhua commentary may raise eyebrows in Washington, but Beijing’s frustration underscores a key point: Despite a desire to diversify its holdings, the Chinese government continues to buy U.S. Treasury bonds out of political and economic necessity.

 

As long as China’s domestic growth and stability are boosted by American debt, the deep ties between the two countries will likely endure.

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The Xinhua commentary may raise eyebrows in Washington, but Beijing’s frustration underscores a key point: Despite a desire to diversify its holdings, the Chinese government continues to buy U.S. Treasury bonds out of political and economic necessity.

 

As long as China’s domestic growth and stability are boosted by American debt, the deep ties between the two countries will likely endure.

 

 

Interesting - just keep buying China. The more China buys - the more the US owns China. It is a fascinating truism.

 

If someone owes you a small amount - you can quickly dismiss them, but if someone owes you most of your net-worth - well you are really the one being owned. The more they owe you - the more they own you!!

 

Good reminder to all of us - to stay out of debt and be careful how much we lend out. If we can't afford to loose what we lend - then you and the borrower are STUCK together out of necessity.

Edited by trottigy
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If someone owes you a small amount - you can quickly dismiss them, but if someone owes you most of your net-worth - well you are really the one being owned. The more they owe you - the more they own you!!

 

Funny, my bank doesn't see it that way.  I tell them all the time that, since they loaned me money for my house and my car, I own them.  They just laughed at me and told me to pay my bill.

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Funny, my bank doesn't see it that way.  I tell them all the time that, since they loaned me money for my house and my car, I own them.  They just laughed at me and told me to pay my bill.

 

 

This is because in comparison to the BANKS net-worth - what you owe is small change (this is what I meant by - " but if someone owes you most of your net-worth" ). They don't mind seeing you go bankrupt. They can just right that off as a loss - after taking your assets. :wink:

 

If US went bankrupt - China couldn't just right that off as a loss - NOR could they just come in and "take the assets" as those bonds are only based on the word of the US - there really is NO asset to take. ALSO -  US debt is TOO LARGE a piece of their net-wroth.

 

Better example would be - if you were Lehman brothers and had $BILLIONS in a bank - things would be different - you see.

Edited by trottigy
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Just an example - Bank of America takes in 111.4 $BILLION a year. If you didn't pay your annual payment of $15,000 - they wouldn't see a dent as you are .00015% of the money they relied on.

 

Now - lets say you owed MORE and you were 80 $BILLION worth ( or 71%) of that annual income - well they would BEND over backwards to be nice to you. Why? So they could get what they could - you OWN them. This would be especially true if you had a WAY larger (AND more powerful) protection of your assets (read military).

Edited by trottigy
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Interesting - just keep buying China. The more China buys - the more the US owns China. It is a fascinating truism.

 

If someone owes you a small amount - you can quickly dismiss them, but if someone owes you most of your net-worth - well you are really the one being owned. The more they owe you - the more they own you!!

 

Good reminder to all of us - to stay out of debt and be careful how much we lend out. If we can't afford to loose what we lend - then you and the borrower are STUCK together out of necessity.

 

 

At some point China, because of their economy, will be in the same space everyone else is and "Made In China" will be more costly then it's worth. China isn't immune to the effects of the global market place. China has financial problems also...

Wouldn't it be interesting if the solution (to them)  was the UN? The ones saying we need a global economy in which everyone is equal. Which is what the UN has been asking for from day 1. We know that China does not dethrone USA and a global economy run by the UN (USA) would really put American back in the drivers seat (or keep them there). Call me crazy ...

 

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Talking about debt.  I finally got nerve enough to ask someone to pay me back for a loan that I gave them 3 years ago.  They are now working 4 jobs and yes, they have stopped going to all meetings.   Over the period of time, I have tried and tried to encourage them, and even sent the elders to the person, but with no success.  Am trying to get what I can from this person, and I do not waste my time associating with them in any shape or form.  But I could use my payment back, it would for one thing, keep me on here, on line, or else soon, I'll be off line because I won't be able to afford the Internet Connection.   So the person wasn't bent out of shape when I asked for my money back, but I was told that they would get back soon.  Soon to that person is next year!    So, come 2014, its this person last chance, cause I want to cut off all association, since the person takes no interest in any meetings, not even the memorial.   The person has been inactive for the past 5 years.  Soon they'll be permanently inactive by Jehovah's way at the G.T. and Armagadden. 

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  The person has been inactive for the past 5 years.  Soon they'll be permanently inactive by Jehovah's way at the G.T. and Armagadden. 

 

This person can still change.  There is a brother at my mom's congregation who just started coming back after being inactive for 30 yrs.  Our CO last spring on his visit told us of a brother who was inactive for over 20 yrs.  He and another elder visited him and found out why he left.  He left cause he was angry at an elder.  Our CO said his anger was justified at this elder due to the whatever it was that happened.  The CO though had a nice visit and this brother has started going back to the meetings.

 

You just never know.

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This person can still change.  There is a brother at my mom's congregation who just started coming back after being inactive for 30 yrs.  Our CO last spring on his visit told us of a brother who was inactive for over 20 yrs.  He and another elder visited him and found out why he left.  He left cause he was angry at an elder.  Our CO said his anger was justified at this elder due to the whatever it was that happened.  The CO though had a nice visit and this brother has started going back to the meetings.

 

You just never know.

You are right, they could change.  They have a little time slot in this system.   Faith is proved righteous by works, so far, its been quite awhile and no action on this person's part.  I know the person isn't blind to what is happening in this system.  In fact, right before I got on here this evening, the person called my home and advised me that they want to start a new business, that it will take some years to get it going, the person will be able to travel a lot in this new adventure.   Personally, I just don't see them coming back, but like you state above, I need to keep an open mind, perhaps the person will have a change in their circumstances.  

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Personally, I just don't see them coming back, but like you state above, I need to keep an open mind, perhaps the person will have a change in their circumstances.  

 

My family was inactive for about 10 years during my childhood. Personally, nobody saw us coming back.  My mom reactivated, I got baptized and pioneered, my sister got baptized and my father, who (slightly) opposed my mother for about 20 years got baptized. 

 

Yes, please keep an open mind.  After all, an elder told a few in the congregation that we were lost causes.

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As long as China’s domestic growth and stability are boosted by American debt, the deep ties between the two countries will likely endure.

 

 

In reality if they start closing the doors on or limiting capitol controls - then... take it seriously. Countries that have done that in the past start heading down the road to default rather quickly.

 

The debt isn't a "real" thing, it's how money today is created. One buck is created out of thin air and two are owed back to the FED. It's a scam.

Edited by Jordan
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  • 3 months later...

My family was inactive for about 10 years during my childhood. Personally, nobody saw us coming back.  My mom reactivated, I got baptized and pioneered, my sister got baptized and my father, who (slightly) opposed my mother for about 20 years got baptized. 

 

Yes, please keep an open mind.  After all, an elder told a few in the congregation that we were lost causes.

 I wish I noticed this post before and it is a very good one. I hope many more will come into the truth before the end comes. Like I told some of the firends, 2014 WILL NOT be the year when the end comes. Hopefully we will have more time.

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