Globalization

An excellent video that captures the sentiment of our times:

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By Ambrose Evans-Pritchard
Last Updated: 1:48am BST 08/08/2007

The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.

Two officials at leading Communist Party bodies have given interviews in recent days warning - for the first time - that Beijing may use its $1.33 trillion (£658bn) of foreign reserves as a political weapon to counter pressure from the US Congress. Shifts in Chinese policy are often announced through key think tanks and academies.

Described as China's "nuclear option" in the state media, such action could trigger a dollar crash at a time when the US currency is already breaking down through historic support levels.

Continue reading at the Telegraph.

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Fellow Americans,

The time to wake up and quit buying poisoned junk from China is now. Not only has China imported tons of good paying American jobs but they are exporting tainted products. Are they intentionally trying to kill us? Are the corporations that are using or manufacturing goods in China purposely involved in a international conspiracy to kill and demoralize us while using China as the target for blame rather than them?

August 1, 2007 on 5:51 pm
by Jim Guido

Four or five years ago I began to wonder how economic globalization would work out. I figured that the long term goal would be for people around the globe to earn similar pay for like work. In order for this to happen either the industrialized west would have to have a sharp decrease in pay or the far east and third world nations would have to enjoy a sharp increase in pay. My initial inclination was that it would be a combination of both, the east would rise while the west’s earning rate would decline. Likewise the middle class of the west would experience a decline in their standard of living while the east’s middle classes standard of living would rise.