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CHINA'S INFLUENCE ON U.S. ECONOMY IS GROWING.(Editorial)(Column)
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The Cincinnati Post (Cincinnati, OH)
- Article date:
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March 16, 2007
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Copyright informationCOPYRIGHT 2007 The Cincinnati Post. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Peter Navarro
IRVINE, Calif. -- As American politicians remain dangerously preoccupied with Iraq and the war on terrorism, China is emerging, largely unchallenged, as an extremely serious threat to U.S. economic, financial, and political independence. This threat is now unfolding in three clear stages and proceeding hand in glove with China's own emergence as an economic superpower.
Stage One is virtually complete because China is now America's de-facto central banker. As China runs record trade surpluses with the U.S., China now largely funds our federal budget deficit by recycling surplus greenbacks back into the U.S. bond market. With the U.S. so heavily ...
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