Bush made America dependent on China
January 2, 2007 9:30pm CST
Chairman used to say: ?Bush Baby is good for China" But he did not go too much into details. This morning you can read this details --- in the New York Times Take it with a grain of salt! With a closer look your will find, that it is not out of friendliness that America increased its dependency on Beijing. quote: http://www.nytimes.com/2005/03/17/opinion/17friedman.html?pagewanted=print&position= March 17, 2005 OP-ED COLUMNIST Homeland Insecurity By THOMAS L. FRIEDMAN Bush officials have always been eager to pose as the tough guys willing to make the tough decisions. On Iraq and Afghanistan, they did. But when it comes to China, the Bush administration is engaged in one of the greatest acts of unilateral disarmament ever seen in U.S. foreign policy. National security is about so much more than just military deployments. It is also about our tax, energy and competitiveness policies. And if you look at all these areas, the Bush team has not only been steadily eroding America's leverage and room for maneuver vis-à-vis its biggest long-term competitor - China - but it has actually been making us more dependent than ever on Beijing. Indeed, if the Bush policies were wrapped into a single legislative bill it could be called "The U.S.-China Dependency Act." The excessive tax cuts for the rich, combined with a total lack of discipline on spending by the Bush team and its Republican-run Congress, have helped China become the second-largest holder of U.S. debt, with a little under $200 billion worth. No, I don't think China will start dumping its T-bills on a whim. But don't tell me that as China buys up more and more of our debt - and that is the only way we can finance the tax holiday the Bush team wants to make permanent - it won't limit our room to maneuver with Beijing, should it take aggressive steps toward Taiwan. What China might do with all its U.S. T-bills in the event of a clash over Taiwan is a total wild card that we have put in Beijing's hands.