Foreclosure Ridden American is Making Way for a Rising China

Posted on October 19, 2009
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Foreclosure ridden America is sinking and making way for a rising China. In New York Times Robert Kaplan wrote that while America was facing casualty after casualty spilling blood in Afghanistan, China has been reaping advantages by exploiting mineral rich Afghanistan. The Taliban has no cause to pick a quarrel with China. The PLA (Peoples Liberation Army) of China signed a MOU with Afghanistan to build a telecom infrastructure on the day of 9/11 itself when Mullah Omar headed the government of Kabul.

What made it possible for America to come under the grip of China? It was the corruption of political circles and greed in the corporate sector that paved the way for the creation of a rival super power. To understand this, the tangled web of events leading up to it has to be unwound.

For many decades USA pepped up a 5:1 adverse trade balance with China. Beijing transferred its dollar earnings into treasury bills of USA. With the passage of years it has stock piled Treasury bills that are worth trillions of dollars. USA made a blunder – instead of saving and earning from it to neutralize the debt it got involved in expensive long dragged out wars that drained billions uselessly. Now it cannot pull out from these wars it has dug itself into. The result is economically it has literally become China’s captive.

How did USA get locked in these wars? On 11th September 2001 the Twin Towers were hit on America’s mainland causing history. The Intelligence swiftly put the blame on Al Qaida of Afghanistan. But Bush’s advisers brought him round to the view that Saddam of Iraq sitting on piles of mass destruction weapons was the brain behind the move. This piece of nonsense so enraged Richard Clark, the chairperson of Counterterrorism Security Group that he resigned from his post and penned a book exposing the decay.

Military might of American managed to push the Taliban out of Kabul’s governmental seat quite easily. But it failed to erase the strongholds in the outskirts of the city in the country. Instead of giving priority to this prime task the same set of neo-conservative advisers of Bush diverted his attention to launching a full fledged Iraqi invasion. Later it was discovered that Iraq had no such weapons. This change of concentration gave leeway to the Taliban to reorganize and consolidate their position.

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