CHINE: DE LA DOMINATION COMMERCIALE A LA DOMINATION GEOPOLITIQUE

In: Politique internationale: pi, Band 134

Abstract

The West made a disastrous error in 2001 when it allowed China to join the World Trade Organization (WTO). As a member, China can apply its strategy of economic warfare, based on the manipulation of its currency. Because of the undervalued yuan, China has stacked up a huge trade surplus. But where there's a surplus in one place, there's a deficit elsewhere. The upshot is that the economies of the United States and the European Union are now largely dependent on decisions made by Beijing. China's goal is very clear, namely to impose its hegemony on the world. Faced with this predator, Americans and Europeans have to take the appropriate measures, especially by heavily taxing products "Made in China". If there is no transatlantic accord, then Europe, whose currency is highly overvalued, should implement a currency policy designed to sharply reduce the value of the euro-and quickly! Adapted from the source document.