According to a recent story in the WSJ;
“The maker of China’s new stealth fighter jet has teamed up with a tiny, unprofitable California company to try to launch bids for U.S. defense contracts, possibly including one to supply Chinese helicopters to replace the aging Marine One fleet used by the president, according to people involved in the partnership”
China is not like America. The State controls and owns everything. In effect, the People’s Republic of China wants to supply the US with military hardware.
Isn’t it ironic that a helicopter made by Chinese slave labour would be used by the US Government to promote ‘freedom and democracy’?
Politically, this deal will never happen but it does let the western world a peek into the aspirations of China. Unfortunately, China is plagued bychronic price inflation and vast empty cities, and for anybody familiar with the Austrian theory of the business cycle, it appears China is heading for one almighty economic bust.
Just like the over exaggerated fears in the 1990s that Japan was going to ‘take over the world’, I feel the threat of China is also over stated.