U.S. should be Afraid of China-Russia Coalition

• 04.28.2015, 20:37
•  America,  Region,  Asia,  World

Economy of the world was changing rapidly during last few years. Although the world fist economy- U.S. has overcome the crisis, the rest of the world is still struggling. The reason is not  global crisis any more; the reasons are different now in every area of the world.

U.S. should not be afraid from China, but it needs economic reforms in its own country. This is what the U.S. Congress should do. U.S. does not reject that it is facing a serous economic challenge from China and other faster-growing economies, such as India. But the real threat to America can be found much closer, CNN reports.

United State Secretary of Treasury Timothy Geithner said that the biggest risk to American economic interests in the U.S. is their politics in Washington. According to Geithner and his co-partners Henry Paulson and Robert Rubin America has been hurt by weakness of Congress that is not able to deal with some vital issues such as immigration reforms, the tax code and income inequality.

Paulson also added that the world is changing quicker than the U.S. policies and the country needs fundamentally different policies.  Rubin also noted that the world "needs America again to be America, because there is nobody that can replace the United States and play the role that the country was playing for many decades."

According to three of them it is not too late for America to get back in the game. They also do not see anyone out of U.S. that can be predominant force in the world in case America fixes its internal problem and take back its leading place in the world economy.

According to the U.S. Treasury secretaries the statement about the US being the world leading economy is true, because tensions between West and Russia are still developing, the Middle East is in chaos and the Eurozone is not stable because of the financial crisis in Greece. On the shadow of overall weakened world economy U.S. can be dominant, but China is not weak competitor any more.

In this context one should not  forget about the new economic strategy of China, the aim of which  is to reduce quantity of production and increase the quality. It means that China is going to work for high quality trades with the high price. Also strong economic development plan between China and Russia is to be considered. In this sense maybe not China alone, but the coalition with Russia can be threat for American economy.