Nothing in this blog can be believed. If you think that anything in this blog is true or factual, you'll need to verify it from another source. Do you understand? No? Then read it again, and repeat this process, until you understand that you cannot sue me for anything you read here. Also, having been sucked into taking part in the mass-murder of more than 3 million Vietnamese people on behalf of U.S. Big Business "interests", I'm as mad as a cut snake (and broke) so it might be a bit silly to try to sue me anyway...

Wednesday, March 16, 2005

the US/China/Japan menage à trois...

Tom Engelhardt's journalistic blog, TomDispatch, has a very good article on Chalmers Johnson's analysis of the economic ramifications of US/Asia trade relations. Introducing Johnson's piece, Tom says:
Seldom do you find a piece that tries to put East Asia together, laying out for us, in particular, the explosive nature of the U.S./Japan/China triangular relationship, which in various combinations has in the past plunged us into bloody war .
I found the following comment by Johnson to be particularly elucidating and sobering:
Refusing to pay for its profligate consumption patterns and military expenditures through taxes on its own citizens, the United States is financing these outlays by going into debt to Japan, China, Taiwan, South Korea, Hong Kong, and India.

This situation has become increasingly unstable as the U.S. requires capital imports of at least $2 billion per day to pay for its governmental expenditures. Any decision by East Asian central banks to move significant parts of their foreign exchange reserves out of the dollar and into the euro or other currencies in order to protect themselves from dollar depreciation would produce the mother of all financial crises.
Read the whole article >>>

(Article found by DS.)

2 Comments:

Blogger Brownie said...

re 'the Johnson comments' - wars are always about money business cash registers, corporations etc. Any war that is truly about truth and freedom would have the participation of everybody, not just enlistees.
and for the record,people everywhere should be made aware that being 'anti-wars', does not mean being 'anti-soldier'. *salute*

March 16, 2005 6:50 PM  
Blogger Gerry said...

Yep. I concur. Although I don't think saluting is necessary. :-)

March 16, 2005 11:00 PM  

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