The American Democrats tend to be isolationist. They will withdraw from America’s role as World policeman and with her impossible balance of payments problem may very well return to protecting her damaged manufacturing base by a return to tariffs or even quotas. Her major problem is that China,her main supplier of comsumer goods,is also her main creditor.
America is in an impossible position,she relies on China to finance her economy by buying American government bonds and to become independent of Chinese finance she must stop buying Chinese goods.
If she does that China could start selling bonds and dollars with dire results for America. (U.S. beholden to Beijing,Weekend Australian,14-15,3,09,p.18).
We are also involved. We will never be in a position to resist an attack by China. America is our only defence and America’s interest may lie elsewhere. To keep China buying U.S. bonds America could suggest to us that our future lies with China. China could provide the finance,expertise and man power to develop our resources and the writing is already on the wall.
(“Beijing gives Rio a dollars 20 billion war chest”,The Weekend Australian,14-14.3.09,p.1).
China’s strategy with Australia is obvious,work with America’s help to get control of Australia’s major resource companies starting with Rio Tinto.
Chinalco,a Chinese government company,wants an 18% stake in Rio. She offers to become Rio’s banker through China Ex1AM Bank,providing long term loan facility to Rio to fund joint projects with Chinalco and/or other Chinese companies.
Beijing has offered Rio Tinto 20 billion U.S. dollars or more to develop major mining projects in Australia,China and around the World. (The Weekend Australian,14-15,3.09,p1).
If Wayne Swan agrees,Australia will become a Chinese satellite in the long term. Her mining companies will,with Chinese help,dominate the world.
If you are one of our inner city elite,you will no doubt say that this will be great for Australia and Australians with plenty of money and work for all.
On the other hand why would China be interested with white Australians,when she has masses of competent graduates and day labourers of her own. Get real,if Swan agrees to the take over,find yourself another country to live in.
