The following is an excerpt from the book Bowing to Beijing.
Mutual dependency can guarantee a certain amount of pragmatic behavior by both sides, but there should be no romantic illusions about how the Chinese communists feel about America. “We hate you guys,” China Banking Regulatory Commission Director General Luo Ping fumed about the PRC being forced into buying U.S. Treasuries to protect Beijing’s massive U.S. debt holdings. “Once you start issuing $1 trillion-$2 trillion … we know the dollar is going to depreciate, so we hate you guys, but there is nothing much we can do.”
He says there is nothing they can do because Beijing needs Americans to keep buying their consumer goods.… Seguir leyendo »
Philippine national elections are set for Monday, but just because a vote is scheduled doesn’t mean it will actually occur. The Southeast Asian nation is one of those places where talk about voting usually is preceded by the sad qualifier, «if the election happens. …» This year is no different.
The latest trouble in the archipelago is a mechanical one. On Tuesday, less than a week before polls open, the Commission on Elections revealed that there were software problems in all 76,000 voting machines spread across the country’s more than 7,000 islands. The race is now on to try to acquire, deliver, install and test tens of thousands of new memory cards as well as devise a backup plan to handle the 50 million voters expected on Monday.… Seguir leyendo »