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MAD For A New World?

by Gormack on April 23rd, 2010

Interesting thought from Fareed Zakaria in The Post-American World:

“The Chinese-American economic relationship is one of mutual dependence. China needs American markets to sell its goods; the United States needs China to finance its debt – it’s globalization’s equivalent to the nuclear age’s Mutual Assured Destruction.”

But others say that the Chinese have already bootstrapped their economy and infrastructure with proceeds from American exports. They have or will soon have what they need from us.

They will use, or threaten to use, the power they now hold; the means to destroy the U.S. currency by putting their Dollar reserves on the world markets.

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