American politicians think in terms of the next election; the Chinese think in terms of the next century. An excellent article in the Wall Street Journal analyzes the debtor-creditor relationship between the U.S. and China and where it is likely to lead in the next 20 years, using the historical example of what happened to the British after WW II. In brief, after the British pound tanked just after the war, we refused to bail them out. As a result, the U.S. took over as the preeminent economic power in the world, which is exactly where China will be in 20 years if we continue our folly of massive and unchecked deficit spending.
The sobering thought is that China in 2030 will not be the benign power that the United States was after WW II. This is a country that has killed 65-70 million of its own people, runs over its students with tanks (see my 10/6/09 blog post) and is currently raping Tibet. I suspect that even now plans are being laid in Beijing to manage the transition.
So p-a-r-t-y America while you can, just like the old Greek Epicureans: eat, drink and be merry for tomorrow we die! As the Bible explains: "For the time will come when men will not put up with sound doctrine. Instead, to suit their own desires, they will gather around them a great number of teachers to say what their itching ears want to hear." 2 Tim. 4:3. Apparently this is just such a time.
online.wsj.com/article/SB10001424052748704107204574469073847604010.html
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