On Oct. 7, the People’s Bank of China announced it would slash its previously established reserve ratios required for its financial institutions by an astonishing 1 percent, in an effort to inject $109 billion to stimulate a Chinese economy which has seen the slowest rate of investment in its history.
With experts predicting an additional 1 percent decrease in the nation’s required reserve ratios by the end of the year, the world’s second largest economy has further demonstrated that its proclamations of economic well-being are not as definitive as its central government would leave international investors to believe in the face of a potential escalation in economic conflict with the United States.
For decades, the government of China has been enabled by the globalist class to operate a mercantilist system in its approach to trade, bankrupting the middle and working classes of the West in its fanatical desire to grow its own economy.
While Western media outlets, largely controlled by the globalist elite who have profited off China’s abusive economic system, have decried recent actions by the Trump administration to hold China accountable for its wrongdoing, it appears as if the only nation suffering the effects of the proclaimed trade war is China itself.
In a September interview with the Australian Broadcast Corporation, former White House Chief Strategist Steve Bannon elegantly said, “China thinks of the United States and Australia in the same way. They think we’re tributary states. We are essentially Jamestown to their Great Britain.”
The United States, along with its regional and global allies, for far too long has played by the rules when it comes to Chinese abuse. It’s time the West dispels of the false narrative of Chinese good nature and initiates total economic war against a militant China which presents itself as vulnerable in an effort to reorganize the power structure of the global economy.
With the U.S. economy currently witnessing a historic growth rate of 4.1 percent and with Western nations continuing to see comparable growth, the notion that the impact of such an action would initiate an environment of global recession is laughable especially upon consideration of China’s apparent ability to only initiate politically targeted sanctions on goods, specifically U.S. agricultural products, with the nation’s threats advancing only to further its policy of currency devaluation, the selling of state owned Treasury bonds and sanctions against the technology companies their information sector relies on.
China at this moment does not find itself positioned to deal with the consequences of global action to address its abuse. If the West is to unite to end the decades-long war China has waged on global finance, manufacturing, the rights of intellectual property and the sovereignty of nation states; there is zero doubt that participatory nations would see the mass proliferation of binding agreements initiated by China — which would seek to end economic hostility and provide a framework for equitable cooperation.
Though in the short term, there would be the potential for a slight decrease in growth by participatory nations. With the highest forecasts implying a possible 2 percent reduction in short-term net growth in the United States, the long-term effects of such an action would establish the potential for a previously unfathomable level of growth and initiate a new era global security as participatory nations would be introduced with the possibility to reinvent their sectors of high-level manufacturing along with the presentation of an environment of stable superiority in the development of technology and security in finance.
The economy of China cannot sustain its continued liquidation of capital with a disregard to its national debt in an effort to secure its markets from the impact of retaliatory measures by states they have made victim for decades.
In this moment, we find ourselves on the cusp of the rare opportunity to allow for the determination of a more secure future for the forthcoming generations with a renewed promise of a stable dynamic in power as to allow for equitable growth in the economies of sovereign nations as is selected by their leaders.
My suggestion, at this moment, is to allow for Beijing to burn, if only for an instant, to better allow those who find grievance to seize upon this opportunity to negotiate and re-negotiate agreements in order to create an environment, which seeks the betterment of all involved parties.
Will Hall is a journalism major from Atlanta.
