Business

American Military: Trust in the Last Vestige of US Dominance

By Bill Bonner / LewRockwell.com
This must be some kind of golden age for government. In the US, the feds have seized major stakes in banking, autos, insurance and mortgage finance industries. The Chinese are paying for their enterprises. They already own footholds in some of the most important companies in the US. Yesterday, they announced another big move. CNOOC, China's state-owned energy company, is buying half of Argentina's second largest oil producer, Bridas. The Chinese have described the deal as giving them a "beachhead" for entry into Latin America. The world's richest people (two of the top five are Indians)…its biggest markets...it largest financial reserves…its most profitable companies – all are moving away from the US. And now the Chinese are proposing to help the US upgrade its transportation system. Word from Beijing is that Chinese contractors are pitching high-speed rail lines to California, Florida and Illinois.
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Posted by Editor at March 18, 2010 02:35 AM