Target

Book excerpt: China has become a world economic giant in just three decades. Its central bank holds more than $3.5 trillion in foreign exchange reserves, mostly in dollars. Without the Chinese colossus, the USA might have long ago gone bankrupt, unable to finance its exploding national debt. Now that China has emerged as the world's second largest economy, powerful circles in Wall Street and Washington fear the Chinese may no longer follow the agenda, and decide for themselves what is best for China. They see China as a threat to their global power. The result is growing tension in the Middle East, Africa, and in Asia. Especially alarming is covert US backing of Japan in a conflict with China over remote Pacific islands. China feels escalating hostility, and not only from the Pentagon. Open conflict between the two superpowers could deal a death-blow to the fragile world economy. This book explains in clear terms what is at stake if the US continues to make the Chinese Dragon an enemy.