“The emergence of China as a major economic superpower has raised concern among many U.S. policymakers,” according to a new report from the Congressional Research Service.
“Some express concern that China will overtake the United States as the world’s largest trade economy in a few years and as the world’s largest economy within the next two decades. In this context, China’s rise is viewed as America’s relative decline.”
See “Is China a Threat to the U.S. Economy?” (pdf), August 10, 2006.
Some other notable new CRS reports include these:
“Israeli-Arab Negotiations: Background, Conflicts, and U.S. Policy” (pdf), updated August 4, 2006.
“The Public Health and Medical Response to Disasters: Federal Authority and Funding” (pdf), August 4, 2006.
China can termporarily gum up the global economy, but like ALL other totalitarian trading units integrated into the world economy, it is ultimately dependent on the capitalist countries for maintaining the system.
Explanation in Example: Venezuela’s ‘socialized’ medical programs are paid for with gas profits [Citgo] from the US. Although the monies are kept separate, the balance of net income weighed against the net output of the country can be shaken by a small fluctuation here. The currency is also unstable because without market constraints, the government has no reality check. So, simply: China, like Venezuela, can make life miserable for a while, but no, they don’t have the structural basis to overtake us. Simply put: they are parasites and we are the host.
I agree with Mr Horezga’s comment but I think his example is wrong. Venezuelan “socialized” medical programs are the result of an agreement between the Chávez government and Cuba: We (Venezuelans) give Cuba a lot of petroleum every day and Fidel pays us with medical assistance.