tag:blogger.com,1999:blog-4097293516411888153.post2989576123961123688..comments2023-12-04T10:02:29.445-06:00Comments on Mark's China Blog: Chimerica to the Rescue?Markhttp://www.blogger.com/profile/00967364257656897151noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4097293516411888153.post-83450511038996850312009-03-03T11:37:00.000-06:002009-03-03T11:37:00.000-06:00As Anonymous has argued, but using somewhat differ...As Anonymous has argued, but using somewhat different words:<BR/><BR/>I don't think it's necessarily mutually beneficient that China always has a large account surplus that it invests in low-yielding US treasury bonds. So far, it has served China's interest. But China cannot go on to build up more and more claims against the American taxpayer. There is a limit, and eventually, something's gotta give: It's not beneficial for China if US treasury bonds are devalued by inflation. And if there is no inflation, there will be a bill to pay by the American taxpayer eventually, and the bill won't be pretty. Whatever happens, the trend of the last few years is not sustainble, and there will have to be some sort of unwinding. How it happens remains to be seen.<BR/><BR/>As for Ferguson, I think he's basically a historian, not an economist. Doesn't disqualify him from writing about economics, but it may mean that he didn't think through the long-term economic consequences of his argument.Thomashttps://www.blogger.com/profile/05980127611042973278noreply@blogger.comtag:blogger.com,1999:blog-4097293516411888153.post-76479574333270057052009-03-03T00:56:00.000-06:002009-03-03T00:56:00.000-06:00White people leading the global.Yellow people work...White people leading the global.Yellow people work as poor waged slaves. So, where is the fucking democracy and freedom you promised to export. Tell me ,please,I can not see win on this side.Anonymousnoreply@blogger.com