China is fighting hot money inflow. Vietnam is exhausting their means to stop capital flight. All of Asia, and the world, are facing the same problem, inflation, while oil price keeps rising.
This is all because of huge excess of dollars that have been printed out and traveled around the world at high speed. It finally made its way to the commodity markets, pushing up oil and commodity prices.
In the meantime, the US is bashing Asia for its own problem. They selfishly pressure China to appreciate Yuan and the Arabs to increase oil production. But at home, they still keep increasing money supply by lowering interest rates, hoping to shore up their ailing banks and escape from losing the ownership to foreign hands at the same time. But it comes with the cost of falling dollars, rising oil price and inflation. It comes back to hurt the Americans, thus not helping the banks cope with rising distressed assets either. The US is doing the opposite of what they kept preaching others. That is free trade.
The US is a debtor. The common rule dictates that debtor must pay back the debt. That is for the US to stop procrastination and allow China, Singapore, the Arabs to buy up US financial institutions, thus letting the excess liquidity to flow back to where it came from.
USA global hegemony is mainly based on military and financial power.
In order for USA global hegemony to end, the USA dominated global financial system must be destroyed and reformed.
After this blow, the military power should also come to an end.
This must be done.
Titanic Shift in Global Capital Market Power
http://www.engdahl.oilgeopolitics.net/Financial_Tsunami/
BRIC: For a new order
http://www.flonnet.com/fl2512/
Imperial sunset?
http://www.flonnet.com/fl2406/
The Game is over: An Interview by Mike Whitney with Michael Hudson on the Economy
http://www.michael-hudson.com/interviews/080620GameOver.html
USA's global hegemony must come to an end.
Otherwise, more countries will suffer an attack from them.
US is debtor, thanks to George Bush.
Read below book if you are interested in USA financial strategy to dominate the globe:
Super Imperialism
The Origin and Fundamentals of U.S. World Dominance
http://www.michael-hudson.com/books/super_imperialism_II.html
"We're Entering a Two Economy Society." : Interview with Michael Hudson