Chinese economic challenges are real but manageable. It is the billions of dollars wasted in disinformation and hundreds of billions of dollars misused in efforts at military interventions in the United States that now pose a real and tangible threat to the global economy.
The ultimate goal seems to be to destabilize the Chinese economy. The most consistent oracle of the “China collapse” theory has been Gordon Chang, the darling of Washington and Fox News, who – strangely enough – has repeated his thesis since 2001. In a recent Fox interview with Maria Bartiromo, he declared – surprise, surprise – that “China is falling apart.”
In the foreseeable future, the greatest threat to global recovery is not China, but the poisonous mix of protectionism, sanctions and geopolitics in the West. It relies neither on international law nor international consensus, but on brute force. Worse, now it threatens to undermine the rise of the Global South.