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Chinese J-20 spy shot
China has a new stealth fighter waiting in the wings

The Chinese government is spending heavily to increase its military might and is increasing spending on research into new weapon systems. China insists that it is no threat to other countries, but much of the world looks warily at the communist country and its growing power.

China's defense minister Liang Guanglie says that the country wants to modernize its military without foreign aid. Liang said, "In the coming five years, our military will push forward preparations for military conflict in every strategic direction."

Liang continues to say that China would advance its capability to fight and win future high-tech wars while boosting its conventional military arsenal. China is working on weapons that trouble some military analysts and military personnel in the U.S. with new weapons systems like the DF-21 missile which can destroy a U.S. supercarrier with a single hit.

Liang said, "We will stand on our own feet to solve the problem and develop our equipment. The modernization of the Chinese military cannot depend on others, and cannot be bought."

According to Liang, China is building up its navy, air force, and strategic missile forces. China is thought to be launching a new aircraft carrier as much as a year before analysts expected and the Chinese Air Force has a new stealth jet that has been seen recently in spy shots.  The Chinese stealth aircraft is called the J-20 and is thought to be aimed at the U.S. F-22 Raptor. Some reports have claimed that the J-20 is larger than the Raptor with more weapons and fuel capacity making some think that the aircraft may not be as fast or agile as the Raptor in a fight.

Defense News reports that U.S. Defense Secretary Ronald Gates will head to Beijing soon for talks with Chinese officials. The visit will undoubtedly be in part to talk about the fact that China is allied with North Korea. North Korea recently shelled a small South Korean island killing four people, including two civilians.

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RE: Made in...
By Solandri on 12/31/2010 2:05:17 PM , Rating: 3
China produces and exports 97% of rare earth materials used in manufacturing. 97%. Just a day ago, China announced they are reducing their mandated export quota for 2011 by 10%

The net result? Rare earth prices began to rise. China is directly manipulating the global supply and really, I can't blame them as we have LET them put the world in this position.

People keep talking about this like China has some sort of monopoly. They don't. Rare earth metals aren't really that rare. What happened was that China started selling theirs at such a low price that nobody else could compete, so everyone shut their mines down and bought the stuff from China instead. If China raises the prices, it'll become economically viable to re-open those mines again, and China loses their "monopoly". They only have a monopoly so long as they keep the price cheap, which is kinda like having a race car which can go fast except when it races.

China is trying to follow the same pattern that Japan, Korea, and Taiwan went through. When they first made stuff, it was cheap and crappy. Around the 1980s, Japan improved its quality enough that "made in Japan" became a good thing. Same happened with Korea in the 1990s. And today, many of our computer products are made in Taiwan. If they can pull it off, good for them. The quality and price will rise, and a new developing nation will fill the vacant bottom low-price tier. If they can't, then it's really no skin off our nose.

The fact of the matter is, the Chinese are tired of being third rate and all these years they have diligently worked away knowing that our money is flowing to them--out of our pockets--that they have been accumulating to get to the point where they reach their own financial critical mass and... do not need any of us... any more.

This time has either come, or is almost here. The Chinese are not going to pretend to be stupid forever.

Actually, the money flowing to them has more to do with their manipulation of the currency markets, which is also a good part of the reason why their products are so cheap. They're not pretending to be stupid, they're deliberately being stupid and underpricing their labor and products as part of a scheme to get more foreign investment and business. If they continue that and try to base their economic maturation on it, they're going to be in for a serious market recession/crash when they stop the manipulation in an attempt to raise their per capita GDP to first world levels.

Due to inflation, accumulating money isn't really the best way to improve your economy. That's why the deficits created by each new U.S. President seems to dwarf all the past deficits. Inflation devalues the amount of accumulated debt relative to current deficits. To really improve your economy, you have to build domestic productivity. That's what China is trying to do - price its labor and products below market, get foreigners to invest to build factories and manufacturing for them, then stop their currency manipulation to get rid of the foreigners and use those factories for domestic production. Getting cash from other countries is just a side effect of this.

And it's actually a negative for them - since they are underpricing their goods, the value of the goods we are getting from them exceeds the value of the cash we are giving them. So it's actually China which is on the losing end of all this foreign trade in terms of value. Their government just sees it as an acceptable price to pay for expedited industrialization.

RE: Made in...
By Strunf on 12/31/2010 8:25:29 PM , Rating: 2
If China raises the prices, it'll become economically viable to re-open those mines again

Yes and just like the US has been doing for the last few decades China is now stretching its arm to other countries, they are effectively buying mines and other concessions to monopoly not just the resources in China but also elsewhere, this is why the military will be with no doubt a card to be played when it's time for negotiations...

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