The dissipation of the Pax Americana
Posted by Charles II on April 24, 2013
Reuters, in The Guardian:
China will build a second, larger aircraft carrier capable of carrying more fighter jets, the official Xinhua news service has reported, quoting a senior officer with the People’s Liberation Army (PLA) Navy.
China is also building up other forms of military hardware, including a stealth fighter jet believed to be capable of landing on a carrier, drone aircraft and nuclear submarines.
China is alone among the original nuclear weapons states to be expanding its nuclear forces, according to a report by the US-China Economic and Security Review Commission.
Japan will respond, I suspect, by amending its peace constitution to repeal Article 9 which is the basis for restricting its spending on military to 1% of GDP.
Japan is also, in my opinion, engaging in a trade war with China by devaluing the yen. Of course, China may be engaging in proxy war using North Korea. Both sides are unwise to escalate tensions. They would do better to work to ensure adequate petroleum supplies to the region and not worry so much about which economy gets the proceeds.
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