China doesn't need us anymore

Did you listen to this? Niall Ferguson, a Scottish born Harvard Historian, that has written many gloomy doomsday projections of America's fate now in principle says that his earlier described "Chimerica" is a "marriage on the rocks". And he does not use a question mark! If nothing else, the proposition should start many interesting discussions.

He for example says that China is not going to invest more in US treasure bonds and will sell off the ones they have slowly but surely. If you link this to the projections of Johan Norberg in his quite serene film Overdose, it does not look particularly enchanting.

I wonder what they say in China where they sit on a pile of cash when Japan and the West have their debt crisis? Do they say: "look at the effect of the black net-economies that drain the public finances of all these countries". Greece is not as poor as it looks. They were able to borrow on their black richess for a while until it shrivelled in the first financial crisis?

I don't know, of course. It is just a thought.

Inga kommentarer: