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It ignores the fact that THe United States of 2010 is not the same as the United States of 1960.
Basically it is the old United States with a large chunk of the Third world bolted on.
Also the video is quite naieve. The Chinese will never get their money back from their US investments as one way or another the US will default by inflation or by somwe other means.
Why?There is no point in perverting free trade which is what has happeneed. Free trade only works if the buyer immediately pays the vendor with all the resultant balancing effects. Otherewise it is a sham, on both sides.
Posted by: Anthony Scholefield | October 25, 2010 at 10:24 AM
Well, all Empires have their fall.
The US won't be any different.
How ironic that the most capitalist nation on earth is going to be bought up like a mere commodity.
Posted by: Ultimo Tiger | October 25, 2010 at 10:32 AM
The original, noble concept that led less nobly to the present-day EU was to so intertwine the vital bits of the economies of France and Germany as to make a third conflict between them virtually impossible.
Perhaps the same could be said about the present-day economic intertwining of USA and China?
Posted by: Ken Stevens | October 25, 2010 at 11:11 AM
I don't think we should be complacent about this, after all, isn't the same thing happening to us?
Posted by: Elaine Turner | October 25, 2010 at 11:40 AM
Actually great civilisations fall when some bright spark gets the idea for paying rent takers and for people not to work. We caught a bad dose of socialism, we fell. The US is doing that now
Posted by: Bexie | October 25, 2010 at 02:29 PM
The Chinese already own America. Their next step will be to move in and take control of their assets.
Posted by: Ian H.Thain | October 27, 2010 at 11:35 AM