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Actually, one of the biggest neo-con contributions to the demise of the USA as a hegemon has been their policy of exporting manufacturing to China. They have thereby fed the industrial development of China by shipping them machine tools and intellectual property from going concerns that Wall Street bought up to shut down and ship to China. They have put in place the current account problem we face with China because it was the easiest way for them to make money in the short term. The result is that China has >$1trillion in US currency reserves and treasury bills and notes. This policy has simultaneously hollowed out US manufacturing capacity, thereby weakening the nation.

Had they been less greedy they could have followed a less ambitious project along similar lines in Mexico and have had much greater control over the result. This is what Ross Perot thought was happening in 1992. That project could have been expanded to other Latin American nations, none of which could ever, conceivably threaten the USA. But greed and short term gain triumphed to the long term detriment of the USA.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Sep 14th, 2010 at 09:59:12 PM EST
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