With each passing week, it looks like World War III — between America and China — is coming sooner than we think. It’s not going to be fought with bullets or aircraft carriers, although the Chinese are building up their military in an aggressive and threatening way.
This will more likely be an all-out economic war for global supremacy. The yuan versus the dollar. The Nasdaq versus the Shanghai Stock Exchange.
Meanwhile, America is asleep at the switch — at least, the Biden administration is. This is the worst possible time to be raising tax rates on American companies (Our business tax rates would be higher than China’s under President Joe Biden’s plan!), dismantling American energy (at a time when China is running 1,000 dirty coal plants with dozens more in construction), and running up the national debt (with China a major purchaser of the bonds).
Love Donald Trump or hate him, he was a president who put America first and recognized the predatory nature of the Chinese regime. He got tough with President Xi Jinping and overturned one-sided trade deals. His strategy was to do what former President Ronald Reagan did to win the Cold War: Make America tremendously prosperous by building up our strategic industries in a way that the Soviet Union or China couldn’t compete with.
The danger is that we now have a president in Biden who thinks that climate change is a bigger threat to the world than the Maoists in Beijing.
And make no mistake about it; the communists are back in charge in China. Jinping has basically announced himself to be president for life, as democracy and free elections fly out the window. China is also sprinting back to command and control fascist government and industry “cooperation.” That’s a model that will eventually implode, but as we learned from the Soviet menace, they can do a lot of damage to peace and prosperity in the meantime.
It’s no accident that China’s economy and stock market are faltering. In the last year, as the U.S. stock market has risen by about 20% (thanks to Operation Warp Speed), China’s Shanghai stock market went down 15%. They are sprinting toward socialism faster than we are… for now.
The Chinese stock market jitters reflect global investors’ irritation with the more frequent political interventions in business affairs. As Foreign Affairs magazine recently put it regarding these iron-fisted interferences into the business activities of its largest companies: “Xi has placed China on a risky trajectory, one that threatens the (free market) achievements of his predecessors.”
In short, events of recent months both militarily and economically confirm that the modern Maoists are firmly entrenched in Beijing, and capitalism is losing. Jinping’s administration simply doesn’t get what George H.W. Bush once so eloquently described as “that freedom thing.” Militant social controls and restraints on individual liberty are now being matched with economic controls on Chinese megacorporations that are trying to vie for industry supremacy in technology, biology, manufacturing and transportation. Is all of this reminiscent of Japan circa 1939?
What is the Biden administration’s response to these threats? The massive $5 trillion spend, tax and borrow bill he is steamrolling through Congress will impair American economic supremacy almost overnight. Under Trump, tax rate reductions led to a $1 trillion infusion of capital from around the world, coming back to these shores to build up our industrial might. Biden’s tax policies will have the reverse effect: deindustrialization.
We are, as a nation, now back to importing tens of billions of dollars of energy from OPEC and Russia instead of selling the hundreds of years’ worth of oil, gas and coal. Do the progressives who now run Washington really believe we are going to defeat the rising Communist China threat by building windmills? Do they think that redistributing income and wealth makes more sense than creating it?
Will we be in any economic shape to repel China’s militaristic advances in the South China Sea, in India, in Africa and perhaps on to the shores of Taiwan with the policies in place in Washington today? Doubtful.
The war with China is on. Right now, only one country is fighting — China. Let’s not let another Afghanistan catastrophe happen in Asia.
Reagan was right. Strong at home. Strong abroad. Today, are we either?
Stephen Moore is a senior fellow at FreedomWorks. He is also a co-founder of the Committee to Unleash Prosperity and a Washington Examiner columnist. To find out more about Stephen Moore and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com.
“This will more likely be an all-out economic war for global supremacy”. The Chinese have already won this war, with the support of the communist Democrats and the RINOS. The politicians sold out our Country to China.
Unfortunately we’ve already capitulated.. ALL NO Thanks to the rinos and communists in office..
The War Is On With China
Stephen Moore | Oct 16, 2021 | Commentary
” TR (Teddy /Theordore Roosevelt) counseled- preparation for war is the surest guaranty for peace.” Authorof book, ” Destined for War.”- Graham Allison
Democrat, Socialist party of America, President Joe Biden Canceled Anti-Missile Defense Program .
China just recently came to the aid of Russia in Ukraine by sending one of its Aircraft Carriers there.
And each step the Chinese take to beguile and ensnare America into borrowing their trillions to fiancé foolish failed world social experiments based on unreality with the purpose of driving interest rates higher when the trap slams shut ,scores another victory step to the bankrupting of America, beguiled into borrowing money to socially save the world from itself in the greatest huckstering of redistributed wealth since the Romans tried to pay off guys like Atilla not to invade and cross the borders of their empire. Having bought an American election that placed their bought and paid for Biden. Pelosi, Squad minions into Presidential power to accelerate the Destruction of America, they now attack our national financial integrity with the purpose to defund America’s ability to field military strength for defense. Their traitorous well placed American minions first take away our ability to be self-sustaining in energy, redistributing hundreds of billions in wealth from the USA back overseas to the Russians and Iranians who have nothing to offer the world but energy, they create COVID situations of mass unemployment that creates shortage at home driving inflation to record highs knowing each 1% tick in interest in the borrowed 28 Trillion we owe mostly China, transfers $240 billion each year in interest from us to THEM. A 4% tick in inflation = ONE TRILLION each year turning America into Old mother Hubbard’s cupboard with not even a bone left for the USA.
“Chinese are building up their military in an aggressive and threatening way” (copied from the article). This will NOT be a popular post on this forum; I can tell there are a lot of former military here. China is doing this – building their military – in response to the USA. The USA spends over $700 billion, more on “defense” than the next 10 countries combined (that’s about correct). And that figure represents 39% of total world defense expenditures. The US has troops in 160 countries. When was the last time you saw a soldier from Kuwait or Qatar walking the streets of NYC? And defense? The department should be called the Department of Offense or War.
When you have to depend on your enemy to sustain your country you are screwed. Thanks pinocchio joe!!!!