Niall Ferguson: This is what happens if China wins the new cold war

Russian president Vladimir Putin and Chinese president Xi Jinping. AP

 

The winter of a new cold war is coming between the US and China, renowned Hoover Institution and Harvard historian Niall Ferguson warned The Australian Financial Review Business Summit this week.

Winning it might decide the 2020 US election. Losing it might be the end of a US dollar-dominated global financial system, if not worse. That’s very scary coming from the man who called the scale of the Soviet communist collapse in 1989 and the US mortgage implosion two years early in 2006.

China Forms ‘Blockchain Security Alliance’

(Photo Credit: Tencent)

 

Two dozen institutions and government agencies will work together to create a single long-term mechanism for development.

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According to a report from the state-run ChinaNews website, the new partnership is meant to “promote security” in the blockchain industry by establishing long-term mechanisms for the development of the technology within China, ostensibly without foreign involvement. It would also crack down on illegal behavior including ICO pyramid schemes and other forms of fraud.

This Is The Insane Video China Just Put Out Showing It Attacking The U.S.

First the the nuclear-capable carrier killer missiles were introduced, then Chinese warships off the coast of Alaska, and now a video of China attacking America.

The hints of which direction Sino-American relations are going couldn’t be any bigger.

Please see the article source for more screencaps.

 

 

A small group of Chinese Navy ships showed up near Alaska earlier this week during President Obama’s visit to the northern state, mostly as a “we’re here” message. But then, as the Chinese People’s Liberation Army marched in a Beijing parade, someone simultaneously put out this completely nuts video of a naval attack on an American fleet, and on an American base that looks suspiciously like the one on the Japanese island of Okinawa.

If that wasn’t stronger than a implicit “we’re here” message, I’m not sure what is. Couple that with news from earlier today showing that the Chinese Navy actually passed through American waters under the “Right of Innocent Passage” (something that the U.S. Navy is quite familiar with on its own), and you’ve got something quite explicit indeed.

First spotted by the Council on Foreign Relations, it’s not exactly subtle. It wasn’t the PLA Navy attacking a generic foreign navy, and a generic foreign base either. China’s enemy, in this example, very clearly resembled the United States, after a Chinese base suffered a first strike of its own.

But China is our Friend…Right?

 

It was an interesting week last week. For one thing, Chinese company Alibaba debuted as the largest IPO in the history of the world. Larger than the Initial Public Offerings of Facebook, Twitter, Google, Apple, and Microsoft combined. At the same time, there was a Senate report indicating that China hacked U.S. military contractors in a significant way at least twenty times in the past year. In America, we celebrated the success of Wall Street, earning $300 million or so in underwriter fees. In China, they celebrated finding a path to dethrone American technology dominance (from the official Chinese News Agency):