Over the weekend, I read an article from the USA’s CIA chief who said that China’s behavior in the international arena is narrowly focused on its own objectives without giving any concern about the health of the international system. And
If I could recall clearly, there were some western economists, critics and experts who predicted that the Chinese economy will crash in the mid-1990s as a capitalist economic system cannot work well with a political system which is still administered by an “authoritarian” government. Shanghai was a place which has the most construction tower cranes at one time and there were so many buildings and office spaces for rental that certain Western critics called that a real estate “bubble” waiting to explode. That was 10 years ago and it has not happened? Was that a real economic judgment or just another Western ploy to create “panic” in the system or just plain jealousy?
An advanced military force is an essential element of great power status and nobody has the right to question this.
The Chinese is deemed a new player in the procurement of oil and mineral resources for its burgeoning economy. As a new player, it is expected to offer something “extra” from what the established Western nations has firmly cemented. The West has over many decades created a network of oil and commodities buyers and sellers which has been well integrated into its own financial systems that any newcomer would find it difficult to break into. Hence,
Two additional questions I seek to ask, “Where do you think are the many oil traders located and which countries have the most advanced secondary hedging commodities instruments? I have a strong feeling that the current high oil price level is due specifically to speculative trades rather than the increased oil demand from
My friends from US told me that many residents talked about