Today's World News is a site for the people to know what is exactly going on in the news and the world today. Being there is so much hype and propaganda going on these days. This site will add several links so the viewer can research and see the actual news for themselves. Lord knows main stream won't do that for us. Check the links for yourselves. If you find more. By all means. Please share them so they can be added here.
Tuesday, March 16, 2010
Is China's Politburo spoiling for a showdown with America?
The long-simmering clash between the world's two great powers is coming to a head, with dangerous implications for the international system.
China has succumbed to hubris. It has mistaken the soft diplomacy of Barack
Obama for weakness, mistaken the US credit crisis for decline, and mistaken
its own mercantilist bubble for ascendancy. There are echoes of Anglo-German
spats before the First World War, when Wilhelmine Berlin so badly misjudged
the strategic balance of power and over-played its hand.
Within a month the
US Treasury must rule whether China is a "currency manipulator",
triggering sanctions under US law. This has been finessed before, but we are
in a new world now with America's U6 unemployment at 16.8pc.
"It's going to be really hard for them yet again to fudge on the obvious
fact that China is manipulating. Without a credible threat, we're not going
to get anywhere," said Paul Krugman, this year's Nobel economist.