Biden warns China's economy is on the brink

Rapidcreek@lemmy.world to politics @lemmy.world – 48 points –
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The difference is China doesn't give a fuck about its aging population. Once it gets it's hands on Taiwan, the US isn't the defacto world power any more.

Unless china can peacefully occupy Taiwan, that won't be the result.

The result will be that TSMC et al will blow up the fabs. At which point basically the entire world is screwed and china is not any better off relative to where they started.

Reunification can only happen after China gains the ability to chose its own leaders. Otherwise the Chinese leaders can never be trusted. When the reunification happens, I think that Taipei should be the capital of China for the first 10 years or so since that is where the experience in democracy is located.

No, it would have to be Beijing, or at least Nanjing. The name "Beijing" literally means "northern capital". Nanjing means "southern capital". Other cities do not have the cultural cache to be the capital of China. It would be like France having a capital other than Paris.

So rename them to whatever "Donkey's Ass" is in Chinese rofl

What the hell kind of nutso idea is that? "No, it has to be the capital because that's the name"

Do you know what the capital of New York is? It's not NYC. It's Albany. Just because a city has "cachet" doesn't mean it should be the seat of government.

I'm saying that Beijing has legitimacy in the eyes of the people of China, and has had that legitimacy for at least 1700 years. Forget Albany. You have to look at this from the point of view of a country that thinks it's thousands of years old (rightly or wrongly). The capital of Italy is Rome, and it will always be Rome.

All you people from old countries should learn something from Americans: stop being shackled by your past.

No, the US is the defacto world power because the US Dollar is the default reserve currency.

default reserve currency.

Not after June 9

Saw on the other comment that this is because of the Saudi oil announcement? Is that right?

The 50 year agreement between the US and Saudi Arabia to only trade oil in USD is coming to an end. After June 9 SA can trade oil in any currency

And that marks the end of the USD as the world’s de facto reserve currency?

No but it is the first step. If countries no longer have to purchase oil from OPEC in US dollars and they're able to use their own local currency to purchase oil, that will be the end of the US dollar being the world's reserve currency. The petrol dollar has had a stranglehold on other countries for decades because it required them to purchase oil that they needed in US Dollars.

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