China Blackmailing the U.S.

It was predictable. The U.S. depends on the Chinese to keep us from going broke. Our government ignored the threat to our national security by being dependent on upon a totalitarian regime in Beijing. The Chinese government has told Washington to play ball or they'll pull the plug. They want us to stop criticizing them and taking any measures the rising powerhouse deems unpleasant. This is in effect blackmail. I've been arguing for some time that Beijing is a greater threat than al Qaeda. No one else seemed to agree. The threat is ignored because big business is making such spectacular profits. And American politicians are beholden to big business. Now we are going to find out whether my analysis was right:

The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.

Two officials at leading Communist Party bodies have given interviews in recent days warning - for the first time - that Beijing may use its $1.33 trillion (£658bn) of foreign reserves as a political weapon to counter pressure from the US Congress.