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China’s Shocking Move Toward World Domination And An Ominous Warning



Posts : 16630
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China’s Shocking Move Toward World Domination And An Ominous Warning

Post by Lobo on Sat 21 May 2016, 5:59 pm

China’s Shocking Move Toward World Domination And An Ominous Warning
May 21, 2016

With so much focus on the West’s massive money printing schemes, China has made a shocking move toward world domination.  There is also an ominous warning as the Chinese move to dominate the world.
Stephen Leeb:  “This past Tuesday, May 17, the Financial Times carried a story headlined ‘China Becomes Global Leader in Development Finance.’ And even I – who have been keenly following China’s progress, which relates directly to prospects of a big bull market in gold – was caught by surprise. After all, what about the World Bank, financed by the wealthy nations of the West? What about the Asian Development Bank, similarly controlled by Western countries? How could these venerable institutions, each of them charged with financing development in the less developed part of the world, have been overtaken by China?…

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Stephen Leeb continues:  “And the article didn’t even focus on the newly launched Asian Infrastructure Development Bank (AIIB), which China inaugurated with much fanfare in January. To the chagrin of the U.S., many of our supposedly staunchest allies, including Great Britain, Germany, and the Philippines, rushed to join. The U.S. saw the bank as a frontal assault on the Western development banks mentioned above. Indeed on January 27, Reuters noted that ‘a successful AIIB that sets itself apart from the World Bank…would be a diplomatic triumph for China, which opposes a global financial order it says is dominated by the United States and does not adequately represent developing nations.

The implication of the Reuters article was that the AIIB was a potential threat, not an immediate one. After all, the AIIB is expected to lend only about $15 billion a year for the first five or six years of its existence. Those sums aren’t big enough to challenge the alleged hegemony U.S.-led institutions have in development lending.
But the Financial Times article doesn’t even mention the AIIB. Instead, it says that two other China-controlled banks, China Development Bank and the Export-Import Bank of China, rank first and third in development lending; the World Bank ranks second. But the combined lending by just these two Chinese banks is roughly equal to all Western lending to developing economies.

China’s Stealthy Move To Dominate The World
Further, if you include about 15 much smaller China-backed banks including the AIIB, China’s lending to developing countries far exceeds that of the West. Even more striking, while many of the Western institutions have been around since the end of WWII – more than 70 years – the Chinese banks started their lending only about a decade ago

The Financial Times articles concludes: ‘If outstanding loans to domestic borrowers from the two Chinese policy banks are included in calculations, then China’s dominance in global development finance becomes even more unequivocal. The CDB and Ex-Im Bank have well over $2 trillion in total combined assets both inside and outside China.’
The inescapable conclusion is that to a large extent, China is now controlling world development, something that has happened right under our noses while Western pundits were fuming about China’s debt and other supposed problems that in actuality China has well under control.
An Ominous Warning
It’s important to realize that development of the undeveloped world will be central to many unfolding narratives as the decade proceeds. Chief among these will be the issue of how to allocate scarce resources. Just consider that the developed world represents 17 percent of the world’s population but has roughly five times the material goods of undeveloped countries. This means that, assuming no growth whatsoever in the developed world, for the developing world to catch up, worldwide material goods will have to increase fivefold. This would result in massive scarcities of virtually every commodity you can think of from copper to heavy rare earths to lithium to hydrocarbons.

China’s Move To A Gold-Backed Yuan
With China already trading in the yuan with some of these developing countries, like Russia, and preparing to set up an oil benchmark denominated in yuan, I will conclude by saying that the yuan, or more precisely a yuan that is backed by gold, will be the only way to ration the enormous amount of materials needed for worldwide development that China is well on its way to controlling. The actionable message is that while gold and silver could dip a bit in the face of a tougher-talking Fed, you should use any weakness to buy. Owning gold and silver will be your best – and possibly only – defense against China’s stealthy end run around an ever complacent West.

    Current date/time is Wed 26 Oct 2016, 8:09 pm