Democrats

American Concerns Over Chinese Sovereign-Wealth Fund

April 6, 2008 ⋅  E-Mail Article ⋅  Print Article ⋅ Post a comment

If you don’t think you are Chinese or at least contr5olled partly by the Chinese government, then you may be mistaken. How can this be when you live here in America? It’s because we have let China control our policies and now we are so indebted to them they want to start call some shots in regards to American policy and  other than Nancy Pelosi we really have not seen any American politicians with the balls to stand up to them.  Name an American brand, any brand, and any kind of product, whether it is textiles, computer chips, car parts, computer programs, or numerous other goods, you can just about name it and it’s probably being counterfeited in China at this very moment and no o ne is doing anything to stop this.  Download a song from Napster and the world comes down on you, fabricate illegal goods in China and no one says a word, how can this be? How can a teenage skateboarder downloading a song be more prosecuted than a foreign entity that is devastating a business or economy?

We have a gigantic billion dollar per month trade deficit with China which is causing the American middle class to be devastated and yet no one is doing a thing to stop it. China is using the very profits from the illegal goods to invest in US financial systems, and they are utilizing their investments like a loan shark, which is also illegal, by threatening to dump investments and devastate the American economy if the United States makes them angry in regards to geo-political concerns or economic policies. Last year China started openly discussing their financial nuclear option by stating that they may liquidate their vast holding of US treasuries if Washington imposes trade sanctions to force a Yuan which everyone around the globe knows must in all reality happen. 

Chinese officials of the Chinese Communist Party repeatedly stated that Beijing may use its $1.33 trillion of foreign reserves as a political weapon to respond to any stepped up pressure from the US Congress in regards to trade policies or currency valuation. China’s “nuclear option” could trigger a dollar crash at a time when the US currency is already breaking down through historic bottom floor support levels. The Chinese financial nuclear option would cause a spike in US bond yields resulting in a vicious attack on the US housing market and send the American economy into a hard core recession. Some officials say that China holds close to a trillion dollars in US bonds. Most recently under scrutiny is the Chinese government-controlled $200 billion sovereign-wealth fund, this fund has raised fears that it will be used to exert economic or political control worldwide. In an exclusive 60 Minutes interview, fund president Gao Xiqing promised to make China’s fund open to scrutiny but we will see if this happens as China is usually reluctant to do such things with their investment interests. The bottom line is we need to build in America and buy in America and if we do not eventually China will buy all of our American businesses and close the m up and ship the work and products overseas thus leaving America broken and barren. I sure hope our next president understands the dangers of being Powned by China and takes steps to rectify this situation. A nd if you don’t know what powned is just ask your kid because you better understand that right now you are being powned by China and it needs to stop..

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