Lý do tinh tế đến từ nhiều cơ hội để "tống tiền tài chính" của Trung Quốc mà thiếu kiềm chế và thiếu trách nhiệm tài chính tiền tệ của Hoa Kỳ đang mang lại. Tống tiền này được ám chỉ trong "cân bằng tài chính chống khủng bố" trước đoạn trích của cựu Bộ trưởng | Chapter 11 Howto Fight And Win The Coming China Wars 205 The more subtle reason comes from the numerous opportunities for financial blackmail by China that the lack of fiscal restraint and monetary irresponsibility of the United States now are bringing. Such blackmail is alluded to in the preceding balance of financial terror excerpt from former Treasury Secretary Lawrence Summers and can only be understood by first understanding how the United States is financing its budget and trade deficits. For the United States to run large budget deficits there must be someone willing to buy . government bonds. That s where China comes in. In less than a decade China has vaulted to the top of the . creditor heap and will soon surpass Japan as the single largest holder of . debt. By buying so much of American debt China is able to maintain a huge trade surplus with the United States and thereby contribute mightily to chronic . trade deficits. This result occurs because the recycling of . dollars from China back into . financial markets artificially suppresses the value of China s currency the yuan relative to the dollar. That helps keeps Chinese exports relatively cheap and . exports to China relatively expensive. The concept of mutually parasitic economic codependence comes in when China runs the dollar-recycling shell game on the United States because China s own pandering leaders do not want to run the political risk of the slower economic growth that a fairly valued Chinese currency would bring. From the Chinese government s perspective the clear danger is a revolt of the masses. Slower growth also poses a clear threat to China s policy of rapid urbanization to address politically volatile rural poverty. Similarly pandering . politicians allow this shell game to be run because they want to keep consumers and voters fat dumb and happy and themselves in power. As a result the game between the United States and China goes on and on. Here however is the
