America's Fate in the Coming Era of Chinese Hegemony

With the United States and China, who will rule whom? That's the central question of In the Jaws of the Dragon by Tokyo-based journalist and writer Eamonn Fingleton. His own answer is sobering. As American leaders fixate on the Middle East, China quietly consolidates both its geostrategic vision and its economic and military power. What is at stake is far more important than manufacturing jobs or the transparency of Sovereign Wealth Funds. It is a matter of which nation will control the global system America built, and the nations integrated into that system.

Fingleton has lived and worked in Asia since the mid 1980s, and he has covered international economics and business since the 1970s. The American ruling elite, he says, does not understand China, nor the nature of the Chinese government. Most members of the elite continue to believe - a la Tom Friedman - that liberal trade will liberalize China. But Fingleton writes that what is taking place is the exact opposite. "Globalization" has merely given Beijing the financial and institutional tools to get what it wants from America, when it wants.

Over the years, Fingleton has repeatedly proven a prescient observer of international economic trends. In the late 1980s he predicted the crash of the Japanese banking system and stock market. In the late 1990s he predicted the crash of the high-technology boom, and the subsequent shift of real power back to those who control production and supply. His articles have been published in The Atlantic, The New York Times, the Washington Post, and the Harvard Business Review, among others. In the Jaws of the Dragon is Fingleton's fourth major book on trans-Pacific industrial and trading relationships.

Category:

News & Politics

Tags:

• China
• United
• States
• Hegemony
• International
• Trade
• Industry
• Business

[fight2Bfree]

Blaming trade with China as a source of our problems is stupid. The truth is that we don't know how to manage our money. Instead of putting tax dollars into infastructure education and development, we pay through medicaid $25 billion a year to keep dying seniors alive with ventilators in ICU. Education costs are absurd. We spend billions fighting wars against a phantom enemy called "terrorism". We are doing good job bankrupting ourselves. Nothing to do with China.

[andyhwang2009]

19 century for UK, 20th century for USA  and 21st century for China.

[Auraruth8]

@fight2Bfree probably more factors than the ones you mentioned involved I am pretty shure.

[imagesoflightable]

@DontBuyChinese Don`t make mommy disappointed. The vocabulary you are using reflect a person in deep depression on the low end and aggressiveness on the high end.

The middle path is that there is a tendency you might end your life in disgrace and frustration. Mommy will be very sad. So, behave.

[ChowMeinChowdown]

Speaker sounds like he needs to go easy on the cigs.

[petiteasiahoney]

@DontBuyChinese

Hey, twerp. Only companies from the U.S. that is doing good are the ones that moved to East Asia where we have money to burn, unlike unemployed Americans who is occupying every damn city in America. Just like your faux news, US companies are lying to brain dead, stupid rednecks that they're leaving for "cheap" labor when in fact, we have the money to buy their crap. In other words, your US companies are CATERING to our needs and kissing up to us. Boo hoo..

[DontBuyChinese]

@petiteasiahoney

Fuck you, you piece of shit. Take your 1/2" cock, stretch it to the breaking point, and use it to go fuck yourself. But first take the other dick out of your ass. You ain't going to bitch slap anybody, faggot breath. You're so fucking stupid and misinformed that if your brain was compared to a matchbox, it would be like comparing a BB in boxcar. US Corporations are generally doing pretty good; the problem is JOBS: US corps have adapted to smaller work forces, dumbfuck..

[petiteasiahoney]

@DontBuyChinese

American companies doing well??? HAHAHAHAH, you're so stupid you don't even know what it means to be doing well. Are you sucking NYPD's cocks while sitting on your unemployed white ass on Wall Street? Yeah, America is doing so good that there will be a revolution for money, freedom, democracy, and all the other bullshit your honky ass likes to throw around. Go get smacked with a smoke canister and die, stupid motherfucker before I BITCH SLAP YOU. Dumb fuck.

[DontBuyChinese]

@Phead128

You are right: many American have and do live beyond their means. I am not one of one; neither are most Americans that I know. One thing you are dead right about: America is far too generous in its social welfare system, giving cash benefits too some people who are too lazy to work. Its puts a big strain on the government's financial resources. The US military is far too big and expensive and taxes are not fairly assessed; many rich people pay less (see Warren Buffet's comments)

[Phead128]

@DontBuyChinese

Although I agree with your analysis, I do not see how living beyound your means and being encumbered with 1940's era welfare system that is essentially a ponzi scheme that will bankrupt America's future is better than saving money.

[Phead128]

@DontBuyChinese

Agreed.

[DontBuyChinese]

@Phead128

Rapid wage growth does not always lead to greater consumption. In China, there is very little old age social safety network or medical care. Therefore many Chinese save a lot because they have to have money in their old age because of no real social safety net.  So despite wage growth, there may be little increase in domestic spending in China. In US, old people have social security and medicare so they don't have to save so much to live on in retirement like Chinese have to.