Here are the financial problems: First, from an American point of view: Chinese Currency is valued at 40% below its real value. This makes the whole world suffer needlessly.
The Chinese point of view: Since our average Chinese person makes only 3600 dollars a year we are a developing country and need all the help we can get.
American point of view: Since de facto 300 million people in China operate just like Europe and the United States, and because on the world stage you operate as number 2 economically in the world we cannot see you as a developing nation, that doesn't compute(that doesn't make any sense).
Chinese point of view: We don't really care what you think. We have been operating like this for thousands of years. Leave us alone.
American point of view: Your actions (China) are destroying not only the economy of our nation but the economy of Europe and the rest of the world. We cannot leave you alone on this and survive as a nation or as a world.
Chinese point of view: We are as ethnocentric as you are America and we don't really care what happens to the rest of the world including you. Unless we take care of the poor in our nation we cannot survive as a nation either.
end of hypothetical conversation.
So, here the real problem is that China as the (population wise) largest nation on earth was always very close to being impossible to govern effectively for anyone or any group. So, China never has been in a position like the United States where it could think about others outside of China.
This is probably the most important thing for the U.S. and the rest of the world to understand about China.
The Internationalism that the U.S. takes for granted cannot be achieved in China without a resulting collapse of the Chinese government and system.
How can this very serious international problem be addressed? I don't know. But unless a solution can be found the whole world is screwed including China.
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