Why and How the U.S. Should Stop Financing China’s Bad Actors
October 2019 • Volume 48, Number 10 • Roger W. Robinson, Jr.Roger W. Robinson, Jr.
Chairman, Prague Security Studies Institute
Roger W. Robinson, Jr. is president and CEO of RWR Advisory Group and co-founder and chairman of the Prague Security Studies Institute. He earned a B.A. from Duke University and an M.A. from George Washington University. He served as senior director of international economic affairs on President Reagan’s National Security Council, where he was the principal architect of the secret economic and financial strategy that proved decisive to the defeat of the Soviet Union. He later served as chairman of the Congressional U.S.-China Economic and Security Review Commission. Prior to his government service, he was a vice president in the international department of the Chase Manhattan Bank.
The following is adapted from a speech delivered at Hillsdale College on September 9, 2019, during a conference on the topic, “Understanding China.”
In the early 1980s, I served on President Reagan’s National Security Council. Prior to my time at the White House, I was a vice president at Chase Manhattan Bank, in charge of its USSR and Eastern Europe division. It was my job to assess the creditworthiness of the countries in that part of the world, and I had come to realize that the Soviet Union had relatively modest hard currency income—and that what little it had came largely from the West.
In 1982, the Soviets had an empire stretching from Havana to Hanoi, but their hard currency revenue totaled only about $32 billion a year—roughly one-third the annual revenue of General Motors at the time. They were spending about $16 billion more annually than they were making, with the funding gap—the USSR’s life support—being financed by Western governments and banks.
Replies
This one is great.
One the extension of this article is the current trade wars with China.
If anyone believes that China will simply sit back and do nothing while Trump tries to negotiate trade deals that will cost them Billions of dollars without the Chinese retaliating in one form or another, then they are a damn fool.
China is behind much of this "open-border" and US immigration run.
Plus they are heavily invested in Washington politics and are very much involved in funding and supporting the American Communist party.
The American people can just simply roll over and pull the blankets over their heads for just so long, but sooner or later this is all going to catch up to us.
You can all be well assured that China will do anything to try to get rid of President Donald Trump and to make sure Congress does NOT vote to enact any of his trade policies.
China may be behind much of this but the msm and the Dems have fought Trump since he came down the escalator in Trump Tower.
They have not stopped.
One other huge problem we as Americans must solve and soon is our schools. WE HAVE TO TEACH OUR KIDS B/C THEY ARE NOT. THIS HAS TO STOP OR WE ARE IN DANGER OF LOOSING AMERICA B/C OF THE LEFT SCHOOL INDOCTRINATION CENTERS. THEY START AT KINDERGARTEN . WE AS PARENTS HAVE AN OBLIGATION AND IT HAS TO START W/US.
YES CHINA IS A THREAT TO US AND THE WORLD. THEY HATE THE PRES. NOT THAT CONGRESS HAS DONE MUCH FOR THE COUNTRY OR THEIR CONSTITUENTS.
THE BORDER WALL IS STEP ONE BUT CONGRESS HAS DONE LITTLE ELSE. TIME THEY ARE GONE IN 2020
MY LAST ITEM IS THAT B/C OF THE INFLUX OF ILLEGALS 2020 MAY BE THE LAST HOPE ANY CONSERVATIVE HAS IF THE ILLEGAL IMMIGRATION DOES NOT END.