Opinion: China’s Empire Soft and Pervasive + Meta-RECAP

0Shares

By HERIBERTO ARAÚJO and JUAN PABLO CARDENAL

New York Times, June 1, 2013

EXTRACT

By buying companies, exploiting natural resources, building infrastructure and giving loans all over the world, China is pursuing a soft but unstoppable form of economic domination. Beijing’s essentially unlimited financial resources allow the country to be a game-changing force in both the developed and developing world, one that threatens to obliterate the competitive edge of Western firms, kill jobs in Europe and America and blunt criticism of human rights abuses in China.

Ultimately, thanks to the deposits of over a billion Chinese savers, China Inc. has been able to acquire strategic assets worldwide. This is possible because those deposits are financially repressed — savers receive negative returns because of interest rates below the inflation rate and strict capital controls that prevent savers from investing their money in more profitable investments abroad. Consequently, the Chinese government now controls oil and gas pipelines from Turkmenistan to China and from South Sudan to the Red Sea.

Read full article.

Heriberto Araújo and Juan Pablo Cardenal are the authors of China’s Silent Army: The Pioneers, Traders, Fixers and Workers Who Are Remaking The World in Beijing’s Image.

Phi Beta Iota: The story is not new, but now more are being shaken from their slumber. Communism has not beat capitalism — capitalism defeated itself by losing its integrity and allowing the 1% to destroy the middle class and the blue collar leader class. Below are books reviewed at Phi Beta Iota on China, the earlier Earth Intelligence Network list of books on China, and the Amazon list of new books on China.

See Also:

Amazon New Books on China

China Documentary (BBC) “The Chinese are Coming”

DefDog: Over-Stating China – Close Down PACOM + RECAP

Gold Transformer: Post-US world born in Phnom Penh — But See Also CELAC Etcetera

John Robb: China’s Growing Spy Threat + China RECAP

Journal: China’s View on China’s Role in the World

Koko: China Rules Africa — and Ghost Towns…. + China Meta-RECAP

Mini-Me: US Dollar Out, Yuan, System D, and Open Money In + Meta-RECAP

NIGHTWATCH Extract: China Captures Indonesia

NIGHTWATCH Extract: China Expands to the Seas

NIGHTWATCH Extract: China-Iran Rail + China ReCap