• China to US: Cut the defence budget, live within your means, stop letting politics take the global e
    153 replies, posted
• In the aftermath of the credit rating downgrade, Chinese state-owned news agency Xinhua has published an editorial harshly critical of the US government's fiscal responsibility. • It calls on the US to cut its 'gigantic military expenditure' and 'bloated social welfare costs,' to 'live within its means' and to stop letting politics 'take the global economy hostage.' • It also says the US can no longer 'borrow its way out of messes' and that the dollar should be subject to 'international supervision' or replaced by a more stable global reserve currency. • The article finishes by saying the US has lost the 'exuberant energy and innovation' which had assured its status as a world leader 'for centuries.' I'd highly recommend reading the whole article because it's absolutely astonishing. [url]http://news.xinhuanet.com/english2010/indepth/2011-08/06/c_131032986.htm[/url] [quote=Xinhua]BEIJING, Aug. 6 (Xinhua) -- The days when the debt-ridden Uncle Sam could leisurely squander unlimited overseas borrowing appeared to be numbered as its triple A-credit rating was slashed by Standard & Poor's (S&P) for the first time on Friday. Though the U.S. Treasury promptly challenged the unprecedented downgrade, many outside the United States believe the credit rating cut is an overdue bill that America has to pay for its own debt addition and the short-sighted political wrangling in Washington. Dagong Global, a fledgling Chinese rating agency, degraded the U.S. treasury bonds late last year, yet its move was met then with a sense of arrogance and cynicism from some Western commentators. Now S&P has proved what its Chinese counterpart has done is nothing but telling the global investors the ugly truth. China, the largest creditor of the world's sole superpower, has every right now to demand the United States to address its structural debt problems and ensure the safety of China's dollar assets. To cure its addiction to debts, the United States has to reestablish the common sense principle that one should live within its means. S&P has already indicated that more credit downgrades may still follow. Thus, if no substantial cuts were made to the U.S. gigantic military expenditure and bloated social welfare costs, the downgrade would prove to be only a prelude to more devastating credit rating cuts, which will further roil the global financial markets all along the way. Moreover, the spluttering world economic recovery would be very likely to be undermined and fresh rounds of financial turmoil could come back to haunt us all. The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone. It should also stop its old practice of letting its domestic electoral politics take the global economy hostage and rely on the deep pockets of major surplus countries to make up for its perennial deficits. A little self-discipline would not be too uncomfortable for the United States, the world's largest economy and issuer of international reserve currency, to bear. Though chances for a full-blown U.S. default are still slim now, the S&P downgrade serves as another warning shot about the long-term sustainability of the U.S. government finances. International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country. For centuries, it was the exuberant energy and innovation that has sustained America's role in the world and maintained investors' confidence in dollar assets. But now, mounting debts and ridiculous political wrestling in Washington have damaged America's image abroad. All Americans, both beltway politicians and those on Main Street, have to do some serious soul-searching to bring their country back from a potential financial abyss.[/quote]
[quote]world's sole superpower[/quote] bullshit rest of the article I agree with 100% though
[QUOTE=Cuntsman;31569308]bullshit rest of the article I agree with 100% though[/QUOTE] They are talking about the US [quote]China, [b]the largest creditor of the world's sole superpower[/b], has every right now to demand the United States to address its structural debt problems and ensure the safety of China's dollar assets.[/quote]
The US is not the world's sole superpower
Oh okay, I'm not interested in getting involved with that argument but your post could very easily have been misread as China calling themselves the world's sole superpower
Pretty clever piece of propaganda, really. It was on their state owned news broadcaster, so the majority of China will see it, and with the credit rating going down they actually have evidence to support their argument. Neat way to indoctrinate an opinion into 1billion or so people all at once.
This coming from a country whose entire economy is based on unsustainable growth rates.
[QUOTE=Lhuth;31569354]Pretty clever piece of propaganda, really. It was on their state owned news broadcaster, so the majority of China will see it, and with the credit rating going down they actually have evidence to support their argument. Neat way to indoctrinate an opinion into 1billion or so people all at once.[/QUOTE] This article is actually not much different in tone or content from what European news agencies have been publishing. [QUOTE=Used Car Salesman;31569382]This coming from a country whose entire economy is based on unsustainable growth rates.[/QUOTE] Although it is rather hypocritical.
[QUOTE=Cuntsman;31569329]The US is not the world's sole superpower[/QUOTE] It can be disputed, what does one consider to be a superpower?
[QUOTE=Cuntsman;31569329]The US is not the world's sole superpower[/QUOTE] Who else would there be other than perhaps China?
[QUOTE=Biotoxsin;31569397]It can be disputed, what does one consider to be a superpower?[/QUOTE] [URL="http://en.wikipedia.org/wiki/Superpower"]http://en.wikipedia.org/wiki/Superpower[/URL] [URL="http://en.wikipedia.org/wiki/Potential_superpowers"]http://en.wikipedia.org/wiki/Potential_superpowers[/URL]
[QUOTE=Used Car Salesman;31569382]This coming from a country whose entire economy is based on unsustainable growth rates.[/QUOTE] They Basically tore down villages and towns in the 70's and set up factories. Now they are getting the same growth that the US is getting at the start of the industrial revolution.
[QUOTE=Lhuth;31569354]Pretty clever piece of propaganda, really. It was on their state owned news broadcaster, so the majority of China will see it, and with the credit rating going down they actually have evidence to support their argument. Neat way to indoctrinate an opinion into 1billion or so people all at once.[/QUOTE] It's not really untrue, now is it?
[QUOTE=Mr Donovan;31569421][URL="http://en.wikipedia.org/wiki/Superpower"]http://en.wikipedia.org/wiki/Superpower[/URL] [URL="http://en.wikipedia.org/wiki/Potential_superpowers"]http://en.wikipedia.org/wiki/Potential_superpowers[/URL][/QUOTE] nice, you used wikipedia as a source. im gonna start taking you seriously now.
[QUOTE=semite;31569512]nice, you used wikipedia as a source. im gonna start taking you seriously now.[/QUOTE] You know Wikipedia cites sources right?
China's opinion is irrelevant, because China is [I][B]COMMUNIST[/B][/I] and we all know that [I][B]COMMUNISM[/B][/I] is the worlst evil there is. :v:
[QUOTE=Lhuth;31569354]Pretty clever piece of propaganda, really. It was on their state owned news broadcaster, so the majority of China will see it, and with the credit rating going down they actually have evidence to support their argument. Neat way to indoctrinate an opinion into 1billion or so people all at once.[/QUOTE] Indoctrinate? These are cold hard facts. What don't you get?
:foxnews: "China demands U.S. to cut entire Military to allow invasion!" :foxnews: It's funny how China tells us to cut the defense budget, but no one else does. I hope someone in power listens
[QUOTE=amute;31569444]It's not really untrue, now is it?[/QUOTE] You're right - I think my original post wasn't phrased that well. Their points are largely true, but that kind of fairly blunt criticism on a national news channel is a really good way to foster some kind of national sentiment against/towards another country.
[QUOTE=Used Car Salesman;31569382]This coming from a country whose entire economy is based on unsustainable growth rates.[/QUOTE] They can always pull an USA ;)
[QUOTE=semite;31569512]nice, you used wikipedia as a source. im gonna start taking you seriously now.[/QUOTE] Don't tell me you're one of those idiots who think wikipedia isn't reliable.
Its a Trap! China wants us to lower our defenses so they can attack.
I'm gonna miss Western Civilization dominance man we were the best.
Imagine what China would have said if the US had defaulted :v:
A global reserve currency is a stupid idea, but I do agree with a lot of what they have to say.
[QUOTE=Fort83;31570123]it isn't reliable. It can be easily changed. It's no wonder colleges and universities tell us not to use it[/QUOTE] If you're not a fucking retard and check the sources it's reliable as can be. Stop blaming a website for your own mental shortcomings.
Wikipedia was proven to be about as accurate as the Encyclopedia Britannica, it's only popular stuff that you can't trust, like Justin Beiber and My Little Pony stuff.
[QUOTE=Desolategrunt;31569611]:foxnews: "China demands U.S. to cut entire Military to allow invasion!" :foxnews: It's funny how China tells us to cut the defense budget, but no one else does. I hope someone in power listens[/QUOTE] no one else does because most countries are reliant on us military power(see: nato) while china isnt
[QUOTE=Lhuth;31569354]Pretty clever piece of propaganda, really. It was on their state owned news broadcaster, so the majority of China will see it, and with the credit rating going down they actually have evidence to support their argument. Neat way to indoctrinate an opinion into 1billion or so people all at once.[/QUOTE] The Red Scare was over 50 years ago buddy
Even China sees that we're doing shit completely wrong. Wow.
Sorry, you need to Log In to post a reply to this thread.