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Obama to Borrow China’s Wealth, Clout in Effort to Steady World
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Indira A.R. Lakshmanan
Bloomberg
Tuesday, Dec 09, 2008
Thirty years ago this month, President Jimmy Carter held secret negotiations to establish formal diplomatic ties with a poor, insular communist China. President-elect Barack Obama will inherit a relationship with a China whose wealth and influence are essential to rescuing the world economy.
Resolving almost any international problem now — from reducing North Korea’s potential nuclear threat to slowing global warming — requires Beijing’s cooperation. The financial crisis also underscores China’s importance: Its $1.9 trillion in foreign reserves will be indispensable in helping to avert a global economic meltdown.
While this means China will likely get immediate attention from Obama, the new president probably won’t reorient U.S. policy toward the world’s fourth-largest economy.
(ARTICLE CONTINUES BELOW)
Factory closures and job losses in Michigan and China’s Guangdong province “vividly remind us how interdependent our countries are now,” says Susan Shirk, a former deputy assistant secretary of state for China who has advised both Obama and Hillary Clinton his choice for secretary of state. “Although this could lead to conflict and friction, it also gives the U.S. a strong incentive to cooperate with China.”
Every president since Carter has come to office lambasting Beijing about espionage, unfair trade practices, violations of human rights and threats to Taiwan — before being compelled to work with the Chinese government on common interests.
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December 10th, 2008 at 4:50 pm
Should Barack Obama really be President Elect?
I’m a Brit and these little legal things intrigue me.
Will it get in the way of his inauguration?
December 10th, 2008 at 7:20 pm
No, he shouldn’t (re: our Constitution)…..yet sadly he will. He will be thrust upon his throne by the puppetmasters for all to hail, and at the joy of his cult of “believers”. I’ve yet to decide if the upcoming fiasco will be related to his election, or to war (internal or external of the US).
December 11th, 2008 at 9:47 am
q: How did China get rich?
a1: watching TV
a2: printing money
a3: affirmative action
a4: manufacturing things
December 11th, 2008 at 12:35 pm
No eternal reward will forgive us now for wasting the dawn.
December 12th, 2008 at 3:17 pm
A5..None of the Above
Remember,
Our greedy corporations decided to outsource manufacturing jobs.
December 12th, 2008 at 10:13 pm
3. a5 Eating at Mc Donalds.
December 13th, 2008 at 1:47 am
Check out this site…
http://propagandawerks.blogspot.com
December 13th, 2008 at 9:55 am
The Chinese have obviously done something right for the U.S. Corporation to be playing footsies with them. It’s a love-hate relationship…I’m sure. Love dogs…hate to eat them.
This has to do with our outsourcing of jobs to China. Apparently we need them to lower our costs to make better profit. The chinese know this and also know how desperate we are due to this economy. However, we should watch creating a co-dependent relationship with a country that places quantity over quality. I have friends that are chinese, vietnamese, cambodian, japanese, thai…and all say…do not outsource to china because quality of product will go down. They say the chinese have no integrity when it comes to business. They make profit regardless of how cheaply product is made.
Let me say…this countries economic stresses could cause our government (a corporation) to make some desperately poor choices. I work for a green-energy manufacturing company and guess what? They are asking for volunteers to send to china to train the chinese. That’s f---ed up. They won’t cut salaries, expenses and costs, but will pay to send several families throughout the year or longer to train the chinese to manufacture something created in the U.S. with poor quality taboot. Interesting.
December 13th, 2008 at 2:30 pm
Sage: If it sounds to good to be true then its probably not true. I brought myself a new angle grinder for 14.95. Great. HOW THE f--- CAN YOU MAKE AN ANGLE GRINDER AND SELL IT IN A COUNTRY 6,000 MILES AWAY FOR 14.95.
P.S.Ive had it for two yrs and it still works?????
December 13th, 2008 at 4:39 pm
what is before the supreme court is the ultimate decision as to whether Obama will be able to get to be the “decider” or whether the usual rulers of commerce, banking and ulterior motives get to continue to rule the corporation called america. LOL at those who determine who is electable and those who actually run the criminal organization called the gov’t. It took a very long time for this to happen to an unsuspecting electorate that thinks that by electing an African that the history of this nation would return to honest gov’t, a dream and hopelessly optimistic. It takes the wealthy with a C average to enter wars that are state sponsored, inspire corruption that can only compare to Germany world war II. It is so sad that a cabal determines the lives of god fearing, humble people and alot of television, tavistock to lull the many by only a select few.