It seems that tensions are growing between the US and China over Hong Kong. Considering this administrations penchant for stirring up trouble and chaos over the last eight years, this shouldn’t come as a surprise to anyone.
BEIJING: China’s Foreign Ministry on Friday accused unidentified people in the United States of trying to “disturb” social order in Hong Kong, after the U.S. State Department expressed further concern the territory’s autonomy was being eroded.
Just to illustrate how high tensions have become between the two countries, it was reported the normal ability for the US Navy to pull into port in Hong Kong was denied recently.
Over the past few months, tensions have been high between the U.S. and China. Events such as China denying USS John C. Stennis and its escort ships access to a Hong Kong port showed just how strained relations have become between the two countries, and with China’s recent comments saying that U.S. activity near the Fiery Cross Reef “threatened China’s sovereignty and security interests”, one would assume that things couldn’t get much worse.
Hong Kong was given back to China under certain conditions that frankly haven’t been completely adhered to by China.
Britain handed Hong Kong back to China in 1997 under agreements that its broad freedoms, way of life and legal system would remain unchanged for 50 years.
Beijing’s refusal to grant the former British colony full democracy has embittered a younger generation of activists who launched big protests in 2014.
And, of course, the US has had to stick its nose into the issue since it believes it’s the big brother to the world.
The United States has repeatedly expressed concern about developments in Hong Kong, including freedom of the press and human rights issues.
You can read more of the original story Via zerohedge.com.
Two things going on here that I see.
First, the US owes so much through its debt instruments to China, which automatically means it’s beholding to China.
Second, the Chinese Yuan is scheduled to be added to the basket of currencies in the SDR (Special Drawing Rights) of the IMF (International Monetary Fund). This is a significant change as it signals the rising importance of China in the world economy, as well as the declining importance of the US in the economic world.
These together speak to the idea that China is no longer a “back water” country that can be ignored. China has been careful to back its currency with gold while the “western” countries have been busy selling their gold reserves in an attempt to resolve their insolvencies. The result being that the center of the world economy is going back east toward Asia.
The US may still be the greatest economy in the world in shear volume. But, with the largest debt in the world by many factors, its time as economic and political leader of the world is numbered. This obviously opens the door for a new leader. And, China is stepping up to the plate.
Thus, their warning to the US to mind their own business when it comes to Hong Kong.