The People’s Republic of China (PRC) shows its imperialist thrust in a novel way. It is very different from the way Europe and the United States had done so for centuries with Latin Americans, Africans and Asians. Those were imperialist predators who ruled at the expense of less developed nations. The model of imperial China is different: Purchasing was formerly civilized, commercial, financial and mercantile, and now it is based mainly on capitalist economic power.

This model has created a fund in U.S. dollars of unimaginable magnitude, much of which China has invested in U.S. debt. It must do so for its own security, to maintain the stability of the dollar, the purchasing power of American consumers, and consequently, the value of their reserves and investments.

In addition, the enormous investment in the United States facilitated the stability of interest rates to be at very low levels in the world, but mainly in the United States. This favored the growth of the debt market for asset investments in the United States. It worked for a while, and naturally, it supported the growth of U.S. employment and consumption.

However, soon many U.S. investors wrongfully used bad debt to fuel a huge explosion in the high-risk speculative securities markets from mortgages that simultaneously promoted the creation of immense global liquidity. This in turn created real global growth in consumption and employment, thus creating real prosperity that was unprecedented and without limits. In particular, growth in the highly speculative real estate market on a global scale and not only in the United States. Afterward, the crisis arrived and it still goes on; except in China, for the moment.

It is my understanding that due to the development of this global crisis, the self-defense mercantilism between Europe and the United States has strengthened, is still ongoing, and has very little to do with the effects generated by the aforementioned Chinese mercantilism. In addition, in relation to China, these countries are implementing some restrictive mercantilist measures that are very weak and insignificant; yet there is nothing more that they can do.

The mercantilism between Europe and the United States is now an unavoidable necessity to halt the increase of unemployment itself, period. Thus, any hypothetical request that China should decrease its own exports and increase the exports of the United States and Europe to China, could aid in the recovery of these countries; but it could also create the beginning of a great crisis in China.

In other words, China could not agree with this, because then it would have to allow a free market price of the yuan-dollar exchange rate. The dollar would then collapse, along with exports and employment in China. However, exports and employment in the United States would be stimulated, and China would enter into crisis. Nonetheless, as China has firmly demonstrated, it has a high rational sense of its national interests when it comes to long-term strategies. In my opinion, China will not do this and will not manufacture its own crisis because it must protect its own employment, the American consumer purchasing power, and likewise the global stability of the U.S. dollar.

This is what China is doing, and it is what it has to do. In other words, I think that the global financial crisis outside of China is a proactive fabrication of the United States and Europe; and it behooves them to resolve it, if they want, and not China. They shall decide, especially now that the financial crisis has become an unemployment crisis.

In summary, the new century is marked by China’s growing commercial and financial power that will not be compromised by the West or the East, because it is in no one's best interest. American and European consumers will continue to benefit by the huge savings generated by the low prices of Chinese goods. Mainly, thanks to a yuan-dollar exchange rate that is almost rigid.

In addition, it is time you also know that China, just like the big banks of the Western world, is "too big to fail." Therefore, the people and governments of the more advanced capitalist countries know how to secure their power, and they are ready to pay for that.