Wednesday, July 12, 2023 | 2 a.m.
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Treasury Secretary Janet Yellen says security concerns should not derail U.S.-China economic relations, as reported in the July 7 Financial Times.
However, it is those same ill-advised economic relations that have been building up communist China into an economic and military power over the past 50 years. American industrialists have made bank by simply arguing that China would eventually become humane, democratic and Christian. We are still batting zero in that ballgame.
Yellen also says she does not want to “worsen our bilateral ... financial relationship,” meaning aggravate China into calling in the $1 trillion loan it made to us to help keep our republic afloat. We needed that loan because our citizens don’t want to work any longer to achieve the American dream and our politicians want to stay in office forever by bailing out everyone every time.
At the same time, China is cracking down on exports to us of gallium and germanium, critical for making microchips. So, we are three-time China losers, and Yellen wants to do nothing to loosen the noose we have tied around our own necks.
