Politics
Out of context: Reply #28277
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- yuekit1
Western contempt for China turns to panic
When China’s 2015 stock market bubble popped, prevailing Western opinion held that China’s economic boom would flame out in a debt crisis comparable to America’s subprime disaster of 2008 or the near collapse of Europe’s southern tier in 2013.
Now that China’s tradeable stock market has risen by 43% during 2017 in US dollar terms (with the MSCI-based ETF as a benchmark), Western opinion is melting up.
A sense of resignation, if not outright defeatism, pervades the Trump White House where China is concerned. Washington is dependent on Beijing in the matter of North Korea’s nuclear ambitions; it has no military option as matters stand, and no appetite to undertake the formidable investments in ballistic missile defense that would be required to contain the North Korean threat.