STEVE PIECZENIK TALKS

Xi Coming to America with Rice Bowl 1/2 Full!

Chinese President Xi Jinping has lost an immense amount of Foreign Reserve Currency which started at a high of $4 Trillion now down to $36 Billion.  Just like Russia, China’s economy is falling apart. When a Princeling like Xi Jinping—a son of Maoist Revolutionary leaders—has to resort to both Confucius and Mao’s Childish Book of Wisdom then, President Xi Jinping is in serious trouble.

As the economy of China starts to fall apart because it is both structurally and functionally built on lies, deceptions and massive corruptions then the Yuan can not be a vehicle for financial transaction. Yet it does becomes an expression of the world’s contempt for a fast growing economy built on make-believe numbers and a fictitious narrative with the least amount of credibility that the ruling Communist party could have mustered.

China, under the leadership of Xi, is returning back to the past of torturous memories for the Chinese people when Mao, a man of little perspicacity of finances but an expansive sense of himself, created a Chinese Revolution that decimated millions of his own people. Like the Khmer Rouge in Cambodia, Mao devoured his own people in a fit of rage, cleverly labeled “purging the old way in order to bring the new ways.” China is poised to expand its overseas investments into massive infrastructure projects in order to attempt to replace the ersatz currency, the Yuan, with the dollar. Clearly that will not happen.

When a country as large as China cannot manage its economy without the ‘envelope factor’ i.e. graft, then all bets are off. There is nothing inherently sacrosanct about the Yuan that would allow traders and merchants to accept this worthless piece of paper as more than what it is ---monopoly money. I sound harsh but I happen to like China and what was happening when it was growing at a more realistic pace.

However, Xi came in and decided that the Chinese would convert from an export country to an internal consumption one. Yet he didn’t bother to supply a corresponding narrative that would explain such a Chinese reversion.  He demonstrated an immense paucity of intellectual heft; not to mention any understanding of economic principles that have dominated the post WWII trade and finance since the Bretton Wood Conferences. Instead he has played the weakest political card, arresting potential threats to his vacuous reign. 

He is repeating the mistakes that destroyed Lin Bao, the Chinese General who was killed in an airplane ‘accident’ because he refused to follow Mao’s order to control the Cultural Revolution. That very revolution that eventually created massive slaughters of innocent Chinese intellectuals and businessmen. At present, China is merely a shadow of what it should have become. It’s economy is close to complete collapse if not bankruptcy.

It’s military is extending its reach to the Spratly Islands just as I had predicted in my novel Pax Pacifica twenty some years ago. However, if Xi read the end of the book, it clearly describes how China will find it’s self caught in a spider’s web of military ineptitude bereft of skilled warriors and clear strategic vision.  I still believe that China’s expansive moves will be the final wake up call for the Chinese people who will discover that the diversion of necessary funds for domestic growth has been squandered on useless overseas expansions.

Like its past three leaders, who have never been tutored in the ways of responsible leadership and strategic financial realities, President Xi Jinping is what one can honestly call, ‘a political hack.’ He is from the princeling class where he was embedded into the hierarchy of promotion without any real evidence that he knows much of anything other than his own survival within an antiquated, stilted system called, Communism.

In time, Xi will discover, as did Mao, that someone out there in the Chinese hinterland will challenge his authority and prove that he is really no more than a paper tiger. Meanwhile, Americans must watch out for the onslaught of Chinese intelligence operatives who come to this great country in the guise of being professors, students and teachers of Confucius and Chinese.

There is a Chinese Expression for President Xi Jinping;

‘zhi lu wei ma’ [pronounced: jrr loo way ma]

Meaning:

“Swear that black is white; Or, The Emperor Has No Clothes.”

President Xi Jinping: Get serious… or leave..  And allow the more talented youth of the country to take over!!