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Is China Scary?
Sitting with my lunch buddies today, my co-workers made a comment based on "Donald Rumsfeld's blunt assertion that China's military spending is a threat to regional security". He said that "China is ranked number 2 in military spending, second to the United States." The discussion then turned into how quickly China is growing and buying up all the resources. In turn, the demand is causing prices to go up in the U.S. steel industry and other markets. I vaguely remember the "cold war" being mentioned.
Only a few hours later, a different friend sent me an e-mail and quote, "We need to find a way to hold the Chinese back...the US isn't perfect but the fact that China will become a superpower scares me..." Obviously everyone is concerned with China's growth rate and the possibility of it becoming the second or first superpower.
I thought this whole concern is pretty funny. Before, we were scared of China's communist ways. But now that they are playing the capitalist role of buying resources, driving up deman, and turning industrial, we are still scared, maybe even more scared.
So, is China really that scary?
Yeah, China is second in military spending. They spend about $89 Billion dollars compared to our $280 Billion Dollars. (That's expense before accounting for wars.)
I think China will eventually be a great partner. You can't sell to someone if you're fighting against them. China sells a lot of stuff to us ($152 Billion the first 7 months of this year)... so it is really not in their interest to have a war.
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