It is welcome to read Dean Baker’s argument in this Center for Economic and Policy Research article: The US and China: A Productive Path Forward. It seems the mass media is gladly helping pump up the China threat. The Taliban takeover of Afghanistan exposed the folly of the “war on terror” especially when waged against nation states. A more pressing, viable threat needs to be found in order to justify the insatiable appetite of the war industry. China is a difficult candidate, however in view of the substantial, arguably interdependent relationship between the two countries. Not only is the American consumer habituated to the prices and flexibility of Chinese manufacturing, but without Chinese investment in US Treasury bonds, a significant devaluation of the dollar could occur.
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