China has been an important tool of the Globalists to destroy national industries and economies and render these vulnerable to IMF and BIS interventions. More especially, it has been used to pauperise one-half of Americans and Australians and to militate against Australia’s capacity to once again become self-sufficient; the only nation endowed with a full complement of natural resources and therefore the biggest threat to the globalisation programme.

The Wall Street programme of neo-colonialism was expedited by the Global Financial Crisis of 2008 but rather than penalise investment bank manipulators, governments forced taxpayers to subsidise this home and savings piracy. The pseudo-intelligentsia, instead of condemning China’s central role in destroying industry and full-time jobs, continue to point to China as a robust bulwark against global economic collapse.

The impact of Covid-19 has highlighted Australia’s vulnerability to trade blackmail and sanctions, causing many former captains of industry to join contemporary leaders in commerce in a call for restoration of protective tariffs. The Murdoch Media immediately inflicted a blackout of such conversation, provoking a furious Kevin Rudd to launch a petition to Canberra to end the media monopoly and outlaw foreigner Murdoch from Australian publishing. Unsurprisingly, the media largely ignored his call.

Consequently, any analysis of Australia’s economic status and prospects would be meaningless without brief reference to China’s real potential for regional or global domination. This piece attempts to join a still incomplete pattern of dots, with logic and common sense. For Australians, this is needed to highlight the urgency of restoring tariffs and again becoming economically self-sufficient. Else this nation will collapse back into the equivalent of 1937.

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Classical economists and academics cling grimly to the propaganda that China will save the world. While it is true that the Chinese economy remains strong, real economic growth as published is in fact slowing if one takes into account the rising socio-economic costs that are being bulldozed into the future. These include:

-        The millions of children orphaned by the rural exodus;

-        The overcapitalisation of investor housing held vacant;

-        The geopolitical cost of meeting future water demand by damming several of the world’s biggest rivers, which will cause famine and disease in a dozen neighbouring countries;

-        Pollution.

Nobody has grappled convincingly with how China can deal with massive unrepayable American debt. No doubt China can ride that out, but wave upon wave of American bankruptcies and unemployment since 2008, soon to be exacerbated by commercial real estate collapse, has undermined China’s long-term economic plan. Inexplicably, nobody understood that an industrial export economy based on low production overheads (cheap labour) would undermine the capacity of trader nations to purchase said items (i.e., massive unemployment).

Xi understood that free trade only really benefited the top dog in the long run, so he designed trade policy only to weaken adversaries by creating dependence on foreign imports, then incrementally introducing tariffs and sanctions, ostensibly to “protect the Sino-economy”. Ergo, once a trading nation has reconstructed its economy around imported manufactured goods, China has only to pull the lynchpin on exports and concomitant import of raw goods (i.e., ores and crude oil) and that nation’s economy seriously falters or collapses altogether. Thus, old-school expensive military expansionism is superseded by profitable migrant colonialism in conjunction with trade wars.

For the subtle cross-cultural nuance of these events to be truly appreciated, motivational developments need to be viewed in macro-historical perspective.

Final and Glorious Dynasty

Around three decades ago, the Chinese Communist leadership discreetly contacted the Sino-Diaspora in Singapore, Hong Cong, Macau, Vancouver and elsewhere, and launched a secret drive to create the 15th Dynasty; four thousand years after the commencement of the first. This was viewed as the first resurgence of Chinese imperialism since the Manchu Dynasty ended in 1912. Moreover, they proclaimed, “this time it will be global”. To fulfil this dream, the five prerequisites were: commonality of language, ethnic unity, acknowledgement of ethnic superiority; secrecy, and economic expansion.

Mandarin was selected as global Chinese language and it was surmised that the emergence of democracy in China would precipitate regional and sub-ethnic pride and identity, which would divert energy and resources from the national drive, and therefore must be repressed at all costs. Tiananmen was not an overreaction and the current repressions in Hong Kong are a foretaste of things to come. Powerful peer pressures are brought to bear on persons who betray the Great Dynasty by speaking Haka, Hokkien, Cantonese or other dialects.

Although the CIA, CFR and coordinated western media have presented the rebellion in Hong Kong as a plea for egalitarian democracy, they certainly understand that this is actually, and typically, a Chinese fight to retain profits. Ironically, this is also pure capitalism.

To ensure that economic imperialism developed rapidly, key exports to targeted nations were heavily subsidised. The CEO of Australian corporation BlueScopeSteel noted that he saw rolls of sheet steel selling in Australia for less than it would cost to produce in their nation of origin, China. Accordingly, America and Australia were flooded with cheap subsidised products, consumer items, tools; construction materials and IT, both hardware and software. No doubt other countries were similarly targeted. GATT, GATS and the Lima Declaration provided substantial political momentum, and hamstrung all resistance.

Impact of China on Australia

These imports forced Australian-owned industrial production entities to out-source, off-shore… or go bankrupt. In Australia, two thirds of family farmers were forced off the land, replaced by corporate factory farming and macro-agribusiness. Regional economies were obliterated, half of these wiped out by live export. In the towns and cities, more than 90% of the manufacturing sector perished. By 2006, independent surveys (AIA, Australian Independent, and The Bulletin, 1999) revealed that between 19% and 23% of Australians were unemployed; 54% struggled to survive on below $15,000 per year and almost 70% (inclusive of the 54%) had incomes under $29,000. Successive governments collaborated in the industrial demise with visible enthusiasm.

To China, the winding up of tariffs was the coup de grace to open-import opposition. As they saw it, the entire global market was as good as theirs by 2005. But in the blind drive to achieve the Glorious Destiny of a Thousand Summers, no one checked the till: in capturing foreign markets they destroyed local jobs in target countries and thus incomes and discretionary purchasing power.

For approximately one third of Australians and Americans, by 2010, disposable income no longer existed. In both countries, by 2018, half the population could not afford to purchase China’s consumer goods in significant quantities, and the 40% higher demographic have tightened their purse strings in alarm, directing windfalls, stimulus payments, and post-budget excess to eliminating credit card debt and making advance mortgage payments. (This money, note, was funnelled into banker’s coffers. In Australia, Rudd’s stimulus payments saved the banks from collapse).

Covid-19

We can only speculate how Xi is reconciling internal economic development needs with those of the Covid crisis, but his trade policy is more transparent. Applying the blowtorch to the bellies of trading nations has clearly commenced. Australian politicians appear to have no idea what is happening.

This scenario is complicated by Pentagon ambitions to launch an all-out war with China, as recommended by the 2015 Rand Report. The Biden-Harris duo also wants war with Iran, Venezuela, Syria, and Russia. The Pentagon is convinced it can win a war with China, with acceptable collateral damage (i.e., Australian lives, as forecast by former PM Malcolm Fraser). However, most intelligence agencies believe that the US will lose.

Unfortunately for Australians, the primary target installations are on the Australian mainland. From an Australian defence perspective, if a war lasts longer than two weeks, we will run out of diesel and our entire transport system will grind to a halt. Can we engage in catch-up mechanisms? China has this aspect covered too: With embargos on four of our biggest exports, we have little wriggle-room to upgrade to the necessary 90-day fuel reserve.

Regardless of war, however, global free trade seems destined to collapse, or be severely constrained by tariffs driven by the rise of nationalism in nations across the globe. This would cause the Chinese stockpile of technology-sensitive exports to pile up in warehouses and wharves, unsold. The happiest faces will be in Taiwan, where 72-year suspended Damocles Sword may eventually be sheathed.