Tuesday, August 25, 2015


Since China devalued its currency 3 percent, global markets have gone into a tailspin. Why should this be?

After all, 3 percent devaluation in China could be countered by a U.S. tariff of 3 percent on all goods made in China, and the tariff revenue used to cut U.S. corporate taxes.

The crisis in world markets seems related not only to a sinking Chinese economy, but also to what Beijing is saying to the world; i.e., China will save herself first even if it means throwing others out of the life boat.

Disbelievers in New World Order mythology have long recognized that this new China is fiercely nationalistic. Indeed, with Marxism-Leninism dead, nationalism is the Communist Party’s fallback faith.

China has thus kept her currency cheap to hold down imports and keep exports surging. She has run $300 billion trade surpluses at the expense of the Americans. She has demanded technology transfers from firms investing in China and engaged in technology theft.

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