“Helping” EU Crisis for Purpose of Slipping Out of the Predicament
The European debt crisis has intensified dramatically as time moves on, but so far people have not seen any reaction from the U.S. in this regard. The U.S. just intervened in the Middle East turbulence with its smart power, and then made its return to the Asia-Pacific with high profile; so it seemed that its strategic intent was to shift away farther and farther from Europe. However, recently the U.S. suddenly decided to jointly create an economic stimulation plan with Europe. On Nov. 28, after the annual U.S. and European Union heads of states’ conference, Obama gave a speech and indicated that the U.S. would do its best to help make the European economy stronger. Why? Does the U.S. really want to help Europe?
In regards to the economic crisis happening in Europe, we cannot say that the U.S. has been watching the fire from across the ocean; but at least we can say that the U.S. has been playing safe and protecting itself wisely. When the high-rise falls, every one must protect his or her own interest. Europeans are hardened allies; but for the U.S., which is facing a similar crisis as well, saving itself should be regarded as its highest priority. Of course, what has made the U.S. different from the European Union, which has been trapped in the Euro and its debt crises, is that the U.S. controls the dollar in its own hands. The U.S. has more room to maneuver than Europe does as it is working to solve its own difficult issues — but just a little more room to manipulate and that is it. Continuing to issue more U.S. dollars may ease immediate urgency, as if the eyebrows had caught fire, but it cannot fill in the increasingly apparent economic black hole. At the time that even the “Super Committee” is unable to make the ends meet and fix spending problems, the U.S. will never share its dollar with other people, not even those most “intimate friends.”
The U.S. would rather not be paying attention to Europe, but it just can't afford not to care for Europe. Recently, when the domino effect appeared in the European debt crisis, the U.S. suddenly realized that the issue is just not that simple. The U.S. hasn't given Europe any assistance; however, Europe can bring some “help” to the U.S. Such “help” is nothing but something to make the U.S.' crisis worse because the relationship between the U.S. and Europe is too tight; this close relationship did not just form overnight. If the city's gateway has caught fire, the fire will spread to the fishes in the pond. Because of this close relationship, when the U.S.' sub-prime crisis impacted the global economy a few years ago, its effect on Europe was the most serious. It can be said that the European debt crisis is the outward extension of the U.S. sub-prime crisis. Therefore, if the European economic crisis will produce any extended impact, the U.S. will definitely be the first one to feel it and suffer the most.
Apparently the U.S. has clearly felt the pressure of such threat; therefore, it has demanded that European Union “immediately” solves its debt crisis. But currently it is difficult just for Europe to try to ease the problem, never mind solving this crisis “at once.” However, the reason that the U.S. even calls for “immediate” resolution is not that the U.S. lacks of understanding of Europeans' current dilemma, but that the U.S. feels overly urgent to prevent the European debt crisis from “infecting” the U.S. itself.
Of course, the U.S. knows that a demand with such one-sided wishful thinking will not be realized, so it has indicated that it would reach out and give Europeans support. But the U.S. already feels strained to just protect itself; what can it do to “support”? The U.S.' so-called “support” is just empty talk and a feint shot. For a country like the U.S., which has always been pragmatic, its real purpose is to stabilize its European allies while moving its force to the Asia-Pacific and thus withdraw its role from Europe.
Facing this situation, China needs to clearly understand two points:
First, it does not matter if one looks from the perspectives of economy and politics or history and humanity; the U.S. and Europe always belong to a complete Western system. Even the European debt crisis is like a fire burning up to the top of the house, and the U.S. doesn't even want to move one finger. The European Union still wants to come over from thousands of miles away, acting under the excuse of a mediator, get involved in the South China Sea issue, and actively joins the U.S.-led China containment camp. We can imagine that once the Euro declines, it is very possible that the European Union member nations, which are economically loose like a tray of sands, will unite solidly around the U.S., cutting in from the West, coordinating with the U.S. and its Eastern allies which are closing in from the East, to jointly contain China. Once this situation is established, China's economy will face attack from the East and the West. The forces from the East and the West appear to be in economic recession and weak; but “insects with hundreds of feet will not become rigid even after they die.” After all, they used to be a powerful bloc and have a common backup and “leader” — the United States. We should be prepared in advance and get ready for any possible threats produced by their unanimous march.
Second, even it is already very embarrassing, but as long as the U.S. can get away from the impact of the European debt crisis and slip out of this predicament like a cicada shedding its skin, it will never forget to guide the negative impact produced by the European debt crisis's radical destructive force to China. Therefore, preventing an attack from such potential negative impact should not be deemed as unnecessary. For the time being, finance is still the weakest area which can be easily attacked. The experience gained from the previous period indicates that issues like housing or rice prices are all closely and directly linked to factors in the finance sector. Therefore, controlling the gateway to finance’s opening, especially the capital market, will be the key.
In regards to the economic crisis happening in Europe, we cannot say that the U.S. has been watching the fire from across the ocean; but at least we can say that the U.S. has been playing safe and protecting itself wisely. When the high-rise falls, every one must protect his or her own interest. Europeans are hardened allies; but for the U.S., which is facing a similar crisis as well, saving itself should be regarded as its highest priority. Of course, what has made the U.S. different from the European Union, which has been trapped in the Euro and its debt crises, is that the U.S. controls the dollar in its own hands. The U.S. has more room to maneuver than Europe does as it is working to solve its own difficult issues — but just a little more room to manipulate and that is it. Continuing to issue more U.S. dollars may ease immediate urgency, as if the eyebrows had caught fire, but it cannot fill in the increasingly apparent economic black hole. At the time that even the “Super Committee” is unable to make the ends meet and fix spending problems, the U.S. will never share its dollar with other people, not even those most “intimate friends.”
The U.S. would rather not be paying attention to Europe, but it just can't afford not to care for Europe. Recently, when the domino effect appeared in the European debt crisis, the U.S. suddenly realized that the issue is just not that simple. The U.S. hasn't given Europe any assistance; however, Europe can bring some “help” to the U.S. Such “help” is nothing but something to make the U.S.' crisis worse because the relationship between the U.S. and Europe is too tight; this close relationship did not just form overnight. If the city's gateway has caught fire, the fire will spread to the fishes in the pond. Because of this close relationship, when the U.S.' sub-prime crisis impacted the global economy a few years ago, its effect on Europe was the most serious. It can be said that the European debt crisis is the outward extension of the U.S. sub-prime crisis. Therefore, if the European economic crisis will produce any extended impact, the U.S. will definitely be the first one to feel it and suffer the most.
Apparently the U.S. has clearly felt the pressure of such threat; therefore, it has demanded that European Union “immediately” solves its debt crisis. But currently it is difficult just for Europe to try to ease the problem, never mind solving this crisis “at once.” However, the reason that the U.S. even calls for “immediate” resolution is not that the U.S. lacks of understanding of Europeans' current dilemma, but that the U.S. feels overly urgent to prevent the European debt crisis from “infecting” the U.S. itself.
Of course, the U.S. knows that a demand with such one-sided wishful thinking will not be realized, so it has indicated that it would reach out and give Europeans support. But the U.S. already feels strained to just protect itself; what can it do to “support”? The U.S.' so-called “support” is just empty talk and a feint shot. For a country like the U.S., which has always been pragmatic, its real purpose is to stabilize its European allies while moving its force to the Asia-Pacific and thus withdraw its role from Europe.
Facing this situation, China needs to clearly understand two points:
First, it does not matter if one looks from the perspectives of economy and politics or history and humanity; the U.S. and Europe always belong to a complete Western system. Even the European debt crisis is like a fire burning up to the top of the house, and the U.S. doesn't even want to move one finger. The European Union still wants to come over from thousands of miles away, acting under the excuse of a mediator, get involved in the South China Sea issue, and actively joins the U.S.-led China containment camp. We can imagine that once the Euro declines, it is very possible that the European Union member nations, which are economically loose like a tray of sands, will unite solidly around the U.S., cutting in from the West, coordinating with the U.S. and its Eastern allies which are closing in from the East, to jointly contain China. Once this situation is established, China's economy will face attack from the East and the West. The forces from the East and the West appear to be in economic recession and weak; but “insects with hundreds of feet will not become rigid even after they die.” After all, they used to be a powerful bloc and have a common backup and “leader” — the United States. We should be prepared in advance and get ready for any possible threats produced by their unanimous march.
Second, even it is already very embarrassing, but as long as the U.S. can get away from the impact of the European debt crisis and slip out of this predicament like a cicada shedding its skin, it will never forget to guide the negative impact produced by the European debt crisis's radical destructive force to China. Therefore, preventing an attack from such potential negative impact should not be deemed as unnecessary. For the time being, finance is still the weakest area which can be easily attacked. The experience gained from the previous period indicates that issues like housing or rice prices are all closely and directly linked to factors in the finance sector. Therefore, controlling the gateway to finance’s opening, especially the capital market, will be the key.