Ya, I know they are threatening Taiwan, but they know if we go to war, both our and the Chinese economies will collapse.
I'm not certain they even have to go to war with us at this point. If they stop financing our debt, then our economy takes a mighty hit.
On Thursday, the U.S.-China Economic and Security Review Commission, a congressionally mandated watchdog panel, met on Capitol Hill to review China's diplomatic, economic and military objectives. Witnesses warned that China's efforts to nail down oil reserves are likely to rankle Americans.
Since 1993, "China has traversed the globe in a relentless quest for energy sources to fuel its booming economy," said Gal(cq) Luft, executive director of the Institute for the Analysis of Global Security. He said China will continue to engage in "aggressive competition" for oil.
Many lawmakers fear that China is seeking oil so that it can fuel the rapid growth that would pay for a military buildup.
Earlier this week in its annual report on Chinese military power, the Defense Department said China's rapidly modernizing military may pose a threat to the region surrounding it. The summary said the Chinese People's Liberation Army seems to be making "preparations to fight and win short-duration, high-intensity conflicts along China's periphery."
Luft noted that as a result of China entering into an energy deal with Iran last October, it blocked a U.S. attempt to refer Iran's nuclear program to the United Nations Security Council. That showed "China is interested in a militarily strong, even nuclear, Iran that could challenge U.S. domination of the Persian Gulf," he said.