[Pen-l] Paul Krugman on the British Empire

[Sabri Oncu <sabri.oncu@xxxxxxxxx>]

Dean Baker on what Chine was doing:

> This was the deal that they consciously entered, eyes wide open.

And this is one of these rare cases (well, no so rare I must say:
After all, he is an American and I disagree with most because I am a
barbarian!) where I have to disagree with Dean. I doubt that China
entered into this deal eyes wide open. Whatever they were doing turned
to their advantage because the outcome was that in the end they
grabbed the bull by the balls, but I don't think they knew what
exactly they were doing when they were doing it.

Now, it is a matter of how hard they can tighten their grip on the
balls of the bull and I doubt that they have the balls themselves to
tighten their grip at the moment. If they kill the bull now, they will
die, too. So, China and the US are codependent entities at the moment.
Neither can kill the other unless other actors walk into the game.

Only the time will tell what will happen.

Best,
Sabri
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