|
JBL-- Sorry to be out of order, I don't know why I hadn't seen this post yet... Anyway, Friedman is wrong about the two schools on Japan, anyway. I read enough on the overvaluation of Japanese real estate, the weaknesses in its banking system, and the recklessness of its overseas investments, along with other stuff about the effects of "crony capitalism" and so forth, that I told several friends that Japan was due for a crash about a year before it happened. The other "schools" just got the most publicity...On China, the Army is a fairly conservative organization,and has been heavily involved in its own version of "crony capitalism". It is doubtful that China intends any very adventurous actions in the near future. On the other hand, they are clearly the main power to worry about when it comes to challenging the status quo, so why take chances. Plus, even if Mr. Friedman were right about the threat of internal instability, that is not a comforting thought. A lot of times, those in power whip up national crusades to mobilize the masses in such situations. Anyway, what do they need with improved ballistic missile technology? |
