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What if the goal of these restrictions is to impoverish China? America competed with the Soviets and they spent ruinously, including in their war in Afghanistan
by rmk 3y ago
What if the goal of these restrictions is to impoverish China? America competed with the Soviets and they spent ruinously, including in their war in Afghanistan, ultimately leading to their downfall.
By some estimates China has been overstating GDP growth and massively understating their military expenditure as a percentage of GDP. This means that for the past decade China may already have spent more than they can afford on a nonproductive area of the economy. One could rightly say that America is also spending like drunken sailors on defense, but the difference is that America issues the world’s reserve currency and can easily monetize its deficit, a luxury that few countries, including China, have.