Tuesday, September 23, 2008
End of the Imperium
There is a story from Reuters today on a leading Chinese academic economist calling for an end to the primacy of the dollar in the world financial order. Thus, the process Nixon put in train some 40 years ago when he floated the dollar and opened diplomatic relations with the People's Republic of China comes full circle under the presidency of the son of the first U.S. ambassador to China. That former ambassador became the president presiding over the fall of the Wall and breakup of the Soviet Empire, and now his son has nearly succeeded in killing what remains of the American Imperium. Meanwhile, Nixon's Dr. Strangelove has now become tutor in chief for Governor Lipstick.