Comments by "RiteMo LawBks" (@ritemolawbks8012) on "DW News" channel.

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  253.  @eonglee44  Believe it or not, I have a lot of respect for China, its people, and its history. It's the oldest and probably most-influential country in the world. During the early 20th century, it went through a period of weakness, colonialism, and instability. It should be strong and rich since it has the largest population, but it's hard to recognize the country and appreciate its history and culture under communism. It's not my country, but watching films such as The Last Emperor, which was approved by the CCP and permitted to film in the Forbidden City, it becomes obvious how drastically China has changed. It's not just the government, but the culture, heritage, and open practice of religion. Every country deserves to be rich, but most economist already know communism and centrally planned economies doesn't work in the long run. If they did, the West would have adopted the model. That's why the CCP has allowed private businesses to operate. The problem will come when the inevitable recession and market correction happens in China. The economies of the US, Japan, South Korea, EU, and UK are free-market economies and work on business cycles. The government only controls regulations, taxes, and fiscal spending. A central bank controls interest rates, money supply, and how to respond to inflation and recession with monetary policy. Recessions and unemployment are painful, but they're required to make the economies more stable, productive, innovative, and robust. In the US, people will be homeless, suffer from unemployment, and exposed to violent crime, but they have access to the strongest and most stable economy and currency in the world. They also have the right to petition the government (and sometimes their employers) for change, and exercise free speech. When the recession happens in China and people are angry and in the streets, what will happen?
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  521. ​ @sunrae3971  The US DOES protect its foreign interests in Europe and throughout the world. If it were to simply sit back as an isolationist nation and allow the UK economy to collapse and become bankrupt, it would be damaging to the financial sector, international trade, international monetary policy, and the markets for US Dollars-UK Pound Sterling exchanges. Despite being a sovereign nation with the sole authority to make the UK's austerity, fiscal stimulus, and monetary policy, Britain and the Bank of England ("BOE") will never act unilaterally. The UK is closely integrated with the economies of its main trading partners, so the BOE's inflation targets, interest rates, exchange rates, and economic-growth projections are nearly identical to the influential policies and targets set by the US Federal Reserve Bank, Int'l Monetary Fund, and the European Central Bank. The GDP of the UK is well above three US$ trillion, so from the perspective of the US and G7 nations, the UK economy, Pound Sterling, and the Bank of England are TOO big to fail without negatively impacting the global economic situation and consumer confidence. In the past, the US has intervened around the world (including Europe), to protect both (1) the domestic economies and currency-exchange rates of its international trading partners; and (2) to implement policies beneficial to the US GDP, business interests, and the health of the domestic US job market. If the UK were to be bailed out by the US again, the negotiations and settlements will mostly be determined by the leverage of US corporations and special interests groups that aggressively lobbies DC politicians and diplomats to include financially beneficial terms in treaties and executive international agreements that make US corporations wealthier, more productive, and competitive against international rivals.
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