UPDATE II: Will the dollar soon be worth less (pun intended)? Read The New York Times, The Almighty Renminbi?Will this decade prove to be America's zenith? I predict that the economic mess will be the event leading to the emergence of Chinese economic and military dominance.
And if you doubt the growing power of China, read The New York Times, China’s Heart of Gold, in which the writer, the executive director of the Beijing Private Equity Association and a director of the China National Association of International Studies, demands "inflation-protection measures for China’s existing investments in America, and [requests] additional security or collateral for its continued investments. America should also provide its largest creditor with greater transparency and information."
This is a stunning demand and challenge to American sovereignty.
This is also the beginning of the end of America's debt addiction, and the withdrawal/detox of the American economy is going to be ugly.
All thanks to Republi-con unfair trade policies as part of their war on the middle class.
UPDATE: Read The New York Times, America the Tarnished.
Read Washington Post, In Downturn, China Sees Path to Growth.