I dunno. But there are some facts ...
China is also tinkering with its social security system, and soon will enable overseas investment of the accumulated fund;
USA does not have, as far as I know, an accumulation of SS fund, and the IOU of the SS obligation is already being diluted via rusting of the monetary system and inflation of fiat money;
Calpers and such large pension systems will open up its spigot to China investment soon, and when it eventually loses money, the Fed may have to step forward, and should it gain, the exit can only be accomplished if the Shanghai/HK stock exchange volume and liquidity can be substantially boosted from current levels, partially funded by USA/Japan money, and partially with China liquidity;
Of course, do not forget that other sink of capital, India;
So, in a manner of speaking, SOTB is correct, and only a matter of interpretation.
The Land of Three Kingdoms actually does not terribly mind, at this juncture, in having monied folks from far away lands 'controlling' it, in some sense. This is what 'opening up' and 'reform' can also mean. |
