When Polls in China Will Really Matter

What a shocker! Nearly 90% of Americans are concerned with the amount of treasury bills and other forms of U.S. government debt held by the Chinese. Loss of jobs to China, Chinese cyberattacks, and human rights violations in China follow in that order. Other issues like the trade deficit with China and China’s environmental footprint are also important, if less so. Clearly the Pew Research Center’s poll numbers show that Americans are well-informed on the risks that burden America’s relationship with China.

There is no doubt that some people, and some corporations make a lot of money off of the relationship. But the average American sees no real direct benefit - low everyday prices at Wal-Mart perhaps the exception - and suffers the risk of uncertain future jobs. As well as uncertain finances for the U.S. government. all of which threatens the future of their kids and grandchildren. A libertarian might say, adapt and re-train and grab all those sino-opportunities. A libertarian should, however, worry about the lack of freedom that constrains China's mercantile economy and has been building up unsustainable imbalances over the last 2 decades or more.

A real libertarian would also know that China's command-style capitalism is the world's largest hothouse. A corrupt crony-system, run by by communist party officials that may or may not be qualified to manage an enormous economy in the 21st century, but whose political bosses remain very much in old-fashioned central-planning mode. Politically at least, and that means any bubbles will grow for far longer and crash far harder than in a politically open system.

So, of course the Chinese feel they are world-dominators - THE world dominators right here and right now. As well, dissent is still a tricky thing in China - even in Hong Kong. When political change comes to China, Pew Research Center polls will shed a lot more light on what Chinese citizens really think. That may not mean that Chinese will suddenly have radically different views of America. But it will mean that China can be trusted a little more than it can in 2015.

Posted by Keeley at September 24, 2015 7:24 PM
Comment #398989

The Federal Reserve serves at the pleasure of the President.

The Secretary of the Treasury is one of the three original cabinet seats afforded the President by the U.S. Constitution.

I’m not concerned with the amount..

Nearly 90% of Americans are concerned with the amount of treasury bills and other forms of U.S. government debt held by the Chinese.

..held by the Chinese as much as I’m concerned with the amount of debt held by the Federal Reserve.

Posted by: Weary Willie at September 27, 2015 10:39 PM
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