It would be easier to swallow had it not been swept under the rug so quickly. Have you heard any follow-up to the preposterous story that the mysterious contrail seen off the coast of California last month was just the jet-stream from a commercial aircraft? We’ve all seen missile/rocket launches on TV over the years and their spiraling contrail looks nothing like aircraft jet-stream. The military and the government differ. Some retired military personnel say it was definitely a missile launch, but NORAD (North American Aerospace Defense Command) say it represents no threat to the United States.
Whatever you believe, here are some interesting facts you can believe about China:
China is the world’s leading producer of gold
China’s economy grew 47 times as fast as American’s in the past decade (316% vs. 43%)
Japan as recently as Friday, 12/18/2010 adopted new defense guidelines, labeling
China’s swelling military budget a ‘matter of concern’
China produces 97% of world’s supply of rare earth metals -the ‘iums’ (ytterbium, gadolinium, and cerium, etc.) used in the production of batteries, lasers, camera lenses, flat panel displays, jet engines and high temperature semi-conductors, among others according to OregonCatalyst.com.
As far back as 2009 China had surpassed all other countries in bio-ethanol patents with research into 2nd generation bio-ethanol (not derived from edible sources like our corn-based ethanol).
China refuses to reign its ally North Korea or join in sanctions against Iran
Our defense Secretary Robert Gates, warns of a “gathering storm” that threatens to sink future defense budgets. The biggest menace is a “growing mountain of debt” as we continue to fight 2 wars.
Annually, a third of the world’s maritime trade traverses the South China Sea which according to Asia Times Online, involves conflicting claims between China and five other nations.
China does not recognize Taiwan (Chinese Taipei, Taiwan, China or Taiwan, Province of China) and no country that does can have diplomatic relations with China. The USA only unofficially recognizes Taiwan.
As of Aug 2010, China holds $868.4 billion of our debt.
2010 Nobel peace prize winner, Chinese dissident Liu Xiaobo, remains in jail unable to accept the prize.
Who are we dealing with and massively in debt to and how will it play out for us? China’s position as the biggest investor in US debt may become political as well as economic. The kid brother is growing up and we better be paying attention.