According to Ambrose, happy days are just around the corner:
World Power Swings Back To America
The American phoenix is slowly rising again. Within five years or so, the US will be well on its way to self-sufficiency in fuel and energy. Manufacturing will have closed the labour gap with China in a clutch of key industries. The current account might even be in surplus
China’s investing (as only a fascist state can) in Africa, because it needs an even lower-wage region to supply its own markets. It can’t get shed of its piles of US gov’t paper, and can’t do anything but devalue its currency in order to maintain its trade surplus.
That really does sound like Japan of the 20 or 25 years following the OPEC embargo.
Chinese efforts to develop its own energy sources consists of coal, synfuels made from coal (so far a blip in the face of demand), and militaristic territorial demands in the Spratlys etc. It’s also probably not a coincidence that eastern Russia (a.k.a. eastern Siberia) has been quietly colonized by Chinese emigres’.
http://www.freerepublic.com/focus/news/2799047/posts
OTOH, US diplomatic correspondence (declass’ed decades after the war) show that the pre-war Third Reich was getting market share in Latin America via its bartering system (German currency being crap at the time), under which raw materials were extracted and shipped to Germany, in exchange for industrial goods. This came at the expense of US industry, to the tune of a couple of billions a year (that was a lot more then than it is now) in lost business.
This appears to be in contrast with the current Chinese strategy, but Africa’s also got loads (and lodes) of rare-earths and other useful minerals, cheap labor, and in countries without Muzzies, surprising levels of political stability (and damned little else except sweat).
New Book: The Reality Is That America Owns China, And China Is Only Just Now Realizing It
http://www.freerepublic.com/focus/news/2798413/posts
World Power Swings Back to America- And I Don’t See the Name “Obama” in this Article
http://www.freerepublic.com/focus/news/2796892/posts
World power swings back to America
http://www.freerepublic.com/focus/chat/2796975/posts
World power swings back to America
http://www.freerepublic.com/focus/news/2798475/posts