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China: If They Pull the Plug, We're Screwed
 One of the most dangerous low-level conflicts in the world right now is the fight over the South China Sea, and if a war breaks out there, it could tank the American economy. Just in case you're unfamiliar with the intricacies of East Asian geopolitics, here's a little refresher as to what's going on: After decades of more or less peaceful coexistence with its neighbors, China has, over the past few years, started to stake its claims to the waterways off its southern coast. The problem, though, is that China isn't the only country with claims to the South China Sea -- Vietnam, Malaysia, Brunei, and the Philippines also claim parts of this strategically important body of water as their own. But the Chinese are doing everything in their power to make sure they're the top dogs in the region. They've even gone so far as to build fake island chains by dumping billions of tons of dirt on top of reefs and in shallow waters so that they can then declare that "new land" as Chinese territory and use it to strengthen their maritime claims. America, which has its own strategic interests in the region as well as mutual defense pacts with the Philippines and Japan, has tried to keep China in check, but so far this hasn't done much. It wasn't supposed to be this way. As Barry C. Lynn of the New America Foundation pointed out in a recent piece for Reuters, back in the 1990s, supporters of so-called free trade told us that opening up our economy to Chinese goods would "liberalize" China. They said it would make China more willing to engage peacefully with the rest of the international community. But 20 years later, it's pretty obvious that the exact opposite has happened. China is now more aggressive than ever, and it's bullying its neighbors and largely ignoring America's objections. And that's because the Chinese know there's nothing we can do to stop them without destroying ourselves in the process. Thanks to so-called free trade, our economy and our ability to function as a nation is now hugely dependent on China.
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Daily Take: China...If They Pull the Plug, We're Screwed
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Wednesday's Daily Stack 
Hour One: Wanted Dead or Alive: Wikileaks will pay big bucks for TPP text!
Hour Two: Nouriel Roubini predicts the market paradox that will cause the next economic collapse
Quote: " The poorest man may in his cottage bid defiance to all the force of the Crown. It may be frail; its roof may shake; the wind may blow through it; the storms may enter, the rain may enter,-but the King of England cannot enter; all his forces dare not cross the threshold of the ruined tenement!" - William Pitt, Earl of Chatham. Video: " I've always felt the nine most terrifying words in the English language are, 'I'm from the government and I'm here to help'." Ronald W. Reagan. Article: " Constitution of the United States" Article 6 section 3. " The Senators and Representatives before mentioned, and the Members of the several State Legislatures, and all executive and judicial Officers, both of the United States and of the several States, shall be bound by Oath or Affirmation, to support this Constitution; but no religious Test shall ever be required as a Qualification to any Office or public Trust under the United States." Article: " Oath of office". " I do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I take this obligation freely, without any mental reservation or purpose of evasion; and that I will well and faithfully discharge the duties of the office on which I am about to enter: So help me God. " |
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Thom
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