World War III could be sooner than you think | Opinion

With each passing week, it seems World War III – between America and China – is coming sooner than we think. It will not be fought with bullets or aircraft carriers, although the Chinese are strengthening their army in an aggressive and threatening manner.

It will more likely be an all-out economic war for world supremacy. The yuan against the dollar. The Nasdaq against the Shanghai Stock Exchange.

Meanwhile, America is sleeping on the switch – at least the Biden administration is. This is the worst possible time to raise U.S. corporate tax rates (our corporate tax rates would be higher than China’s under President Joe Biden’s plan!), Dismantle U.S. energy (at a time when China is operating 1,000 dirty coal plants with dozens more in construction) and the build-up of national debt (China being a major buyer of bonds).

Love Donald Trump or hate him, he was a president who put America first and recognized the predatory nature of the Chinese regime. He got tough on President Xi Jinping and called off unilateral trade deals.

His strategy was to do what former President Ronald Reagan did to win the Cold War: make America extremely prosperous by developing our strategic industries in a way that the Soviet Union or China could not compete with.

The danger is that we now have a president in Biden who thinks climate change is a greater threat to the world than the Maoists in Beijing.

And make no mistake about it; the communists regain power in China. Jinping has essentially announced himself as president for life, as democracy and free elections fly out the window.

China is also running back to command and control the “cooperation” of the fascist government and industry. This is a model that will eventually implode, but as we have learned from the Soviet threat, they can do a lot of damage to peace and prosperity in the meantime.

It is no coincidence that the Chinese economy and stock market are faltering. Last year, as the US stock market rose about 20% (thanks to Operation Warp Speed), the Shanghai Chinese stock market fell 15%. They are running towards socialism faster than us … for now.

The nervousness of the Chinese stock markets reflects the irritation of global investors at the more frequent political interference in business.

As Foreign Affairs The magazine recently said of this iron interference in the business activities of its biggest companies: “Xi has put China on a risky course, which threatens the (free market) achievements of its predecessors.

In short, the events of the past few months confirm both militarily and economically that modern Maoists are firmly entrenched in Beijing and that capitalism is losing. The Jinping administration simply does not understand what George HW Bush once so eloquently described as “this story of freedom.” Militant social controls and restrictions on individual liberty are now accompanied by economic controls over Chinese mega-companies trying to compete for industry supremacy in technology, biology, manufacturing and transports. Does all of this remind of Japan around 1939?

What is the Biden administration’s response to these threats? The massive $ 5,000 billion spending, tax, and borrowing bill it passes through Congress will undermine U.S. economic supremacy almost overnight. Under Trump, tax rate cuts led to an injection of $ 1 trillion in capital from around the world, returning to these shores to bolster our industrial might. Biden’s tax policies will have the opposite effect: deindustrialization.

As a nation, we are now back to importing tens of billions of dollars of energy from OPEC and Russia instead of selling hundreds of years of oil, gas and coal. Do the progressives who now rule Washington really believe that we are going to defeat the growing threat from Communist China by building windmills? Do they think that the redistribution of income and wealth makes more sense than creating it?

Will we be able to fend off China’s militaristic advances in the South China Sea, India, Africa and perhaps the shores of Taiwan with the policies in place in Washington today? Doubtful.

War with China is on. At the moment, only one country is fighting: China. Let us not let another Afghan catastrophe happen in Asia.

Reagan was right. Strong at home. Strong abroad. Today, are we neither?

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