Wednesday, November 27, 2013

China-Japan rearmament is Keynesian stimulus, if it doesn't go horribly wrong – Telegraph Blogs

Asia is on the cusp of a full-blown arms race. The escalating clash between China and almost all its neighbors in the Pacific has reached a threshold. All other economic issues at this point are becoming secondary.

Beijing's implicit threat to shoot down any aircraft that fails to adhere to its new air control zone in the East China Sea is a watershed moment for the world. The issue cannot easily be finessed. Other countries either comply, or they don't comply. Somebody has to back down.

The gravity of the latest dispute should by now be obvious even to those who don't pay attention the Pacific Rim, the most dangerous geostrategic fault line in the world.

Japan’s foreign minister, Fumio Kishida, accused China of “profoundly dangerous acts that unilaterally change the status quo”.

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Comment: The title to this piece "Headline" is extremely disturbing to me. Keynesian economics "stimulus" is just what set us all down the road to serfdom! Put another way, an arms race in Asia is NOT a good thing. War only destroys. This foolishness is the Broken Window Fallacy on steroids and if this time there are nuclear weapons involved, nobody comes out on top! There are no winners to this nonsense....

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