Growing anti-China protectionism in the USA
- From: david_huang2007@xxxxxxxxxxx
- Date: Mon, 22 Oct 2007 05:03:50 -0700
On another Usenet group I was asked, and then answered:
On Oct 12, 1:13 pm, "si" <off...@xxxxxxxxxxxxxxxx> wrote:
If a million dollars is kept in a American bank the government is allowed to
print another million dollars.
It's a shocking financial bubble - I hope it deflates slowly.
Having said that, all those billions of shrinking dollars can still buy a
lot in America. Why doesn't China just go on a spending spree?
The reason China is not about to do it is protectionist noises
emanating from Congress about restricting investments by state-owned
governments. Which is focused primarily on China, but also on Gulf
states and Russia, which are flush with petro-dollars. When the
Chinese government was trying to acquire a small American oil company
back in 2005, it was forced to back off due to bogus "national
security" grounds. All the same, Bush is asking China to open its
banking sector to investment following its ascension to WTO, while
other WTO countries such as Canada still maintain foreign-ownership
restriction on banking, insurance, "cultural industries" as does
Australia.
David Huang
.
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