Forging a New Agenda with China

08-19-2009 • Real Clear Politics

FROM NEW WORLD ORDER PROMOTER HORRIBLE HENRY!!!! Chinese officials feel freer than they did previously to offer public and private advice to the United States. China has begun to trade with India, Russia and Brazil in their own currencies. The proposal of the governor of China's central bank to gradually create an alternate reserve currency is another case in point. Many American economists make light of this idea. But it surfaces in so many forums, and China has such a consistent record of pursuing its projects with great patience, that it should be taken seriously. To avoid a gradual drift into adversarial policies, Chinese influence in global economic decision-making needs to be enhanced. According to conventional wisdom, the world economy will regain its vitality once China consumes more and America consumes less. But as both countries apply that prescription, it will inevitably alter the political framework. As Chinese exports to America decline and China shifts the emph