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Niall Ferguson is a China watcher.During a recent interview with Philip Sherwell in The Sunday Telegraph , he "discussed a resurgent Chinese nationalism that 'is almost intimidating in its intensity' as the world undergoes a shift of financial and political power from West to East" ("China's Got the Whole World in Its Hands," March 11, 2012).
A key point from the interview was this: "Why does this matter for the rest of the world? For one thing, Ferguson sees unnerving echoes in that mixture of shrill nationalism and overseas ambition of Germany a century ago."
The piece continued, "China is already devouring two-fifths of the world's coal, zinc, aluminium and copper." It further noted that the country has £2 trillion in reserve and is the West's largest creditor—owning a substantial share of American debt. It also pointed out that China's economic output may surpass the United States by 2016.
Militarily, as various news sources reported in early March, Beijing's plans include an increase in defense funds of 11.2 percent. This comes at the same time that the United States foresees major cuts in manpower and conventional armaments—and also apparently wants to cut its nuclear weaponry substantially.
To understand what truly underlies America's geopolitical preeminence slipping away, read our free Bible study aid booklets The United States and Britain in Bible Prophecy and You Can Understand Bible Prophecy . (Sources: The Sunday Telegraph, Associated Press, Reuters.)
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