Well, to have a Cold War, you have to first have an Administration that loves the United States and is looking out for her best interests.
I’d say we are one Administration short...
Larry Kudlow lives in fantasy land.
While he got it mostly right, he didn't go far enough into the artificial peg of the Yuan to the Dollar.
The US should issue China an ultimatum: Either allow the Yaun to float freely on the currency exchanges or we will impose a 40% tariff on every product imported from China.
Anyone, anyone who has unrestricted trade with China is committing suicide.
And no, don't bother me with the issue of the $1tril in US Bonds they hold. They can't cash them. Everyone in the world knows they can't cash them. We won't cash them.
Hell, we'll never pay the entire US Treasury debt of $14Tril+.
The Chinese have nothing to counter us with. We are in the driver's seat and all we have to do is drive.
It is heavily and sadly ironic that we are the foolish ones that built Red China into an economic colossus. That money has been and will be used to fund the bellicose PRC military.
We should cease all normal trade relations with the PRC. At this point, it will do virtually nothing to stop their ascent. At least it might give our economy some breathing room to try to rebuild our heavy manufacturing base. Or, in this economically slow period, we might not see such growth.
At the rate that we are going, we will have no heavy industry of any type left soon. I believe that our ability to build and repair ships, for instance, is now pretty much a matter of history, with only a tiny fraction of even our capacity 60 years ago, yet today's sea trade is far greater that it was then.
When was the last time a visiting dignitary used a uniformed army officer as an official interpreter?
A Chinese soldier standing three feet from the President of the United States? I didn't like it, even if it was Obozo.
I really don't like that imagery. Next photo-op, the President is attended by two Marine Corps gunnery sergeants in camos. Slung arms, of course. One to translate Mandarin and the other to glare at the Chinese officer-puke.