Asia Times on Cold War 2.0

Discussion in 'Asia' started by (original)late, May 30, 2020.

  1. (original)late

    (original)late Well-Known Member

    Aug 19, 2015
    Likes Received:
    Trophy Points:
    This is interesting in a number of ways. First, it covers the changing landscape, and it does it without being part of either side.

    That's not easy. Which makes it a good overview of the state of play. One other thing I found interesting was that the language they use may show that they may have moved a step or two towards the Chinese side. Have to wait and see if they keep doing that.

    In any case, best thing I've seen so far..

    "Domestically, the absolute focus – 70% of the available new funding – will be on employment, support for small and medium enterprises and measures to encourage consumption rather than investment in infrastructure building. In summation, in Li’s own words: “The central government will live on a tight budget.”

    That is potentially huge.

    If true, it means the military will get significant budget cuts, which in turns means a reduction of their military expansion. It suggests their Soft Power initiatives will also be reduced.

    More fundamentally, it may also mean China is finally ready to transition into being a mature economy. That should mean that holding down wages, and the yuan, will stop. Which would result in a reduction of their economic aggressiveness.

    Take all that with a grain of salt, but I haven't seen much in the way of good news lately, and this could be very good, providing we get a president that can figure out how to respond to it constructively.

Share This Page