U.S. Debt Crisis - View from China

Comment on the U.S. debt crisis by Tan Ya Ling, director of the
Chinese Institute of Research on Foreign Currency Investment.
The author seems to be, as well, a high-ranking analyst within
the Bank of China.谭雅玲—中国外汇投资研究院院长

The title of his article, published on the internet platform of
China's semi-official paper People's Daily is as follows:

美债背后的“阳谋“:彻底打垮欧元确保美一国独霸
The "strategy" behind U.S. debt: Completely smash the Euro,
thus assuring America's predominant position.

Here are some quotations from the article that demonstrate the
author's evaluation of U.S. financial politics. As such high-grade
expert opinion on crucial national matters like foreign currency
investment and foreign nation's debt rating cannot be realized
without the silent approval of the author's superiors, i.e. Chinese
government circles, the following theses of his should be considered
as semi-official.

美危机的核心是美国利益
The crucial point of the U.S. crisis is America's benefit.

美国国家利益的核心在于美元霸权
The core of America's national benefit depends on the U.S. dollar's
predominant position.

欧美债务危机具有本质上的差别
The European and the U.S. debt crises possess a different character.

美债危机的实质是确保美元霸权、美国霸权
The intrinsic character of the U.S. debt crisis is to assure, both,
the U.S. dollar's predominant position and America's hegemony.

According to the author, it is therefore necessary to think over all
aspects of the U.S. debt crisis:

历史上美债问题有惊无险，最终结果的基点在于美国非常独特的国家资质以及美元非常强势的霸权地位。自1960年以来，美国曾经78次提高债务上限，并且都是在最后一刻完成，本次美国两党很可能复制之前的表演惯例和经验之见，美国不会自己打自己的脸，在利益博弈之后最终将会达成妥协以提高债务上限，这种可能性较大，只是方式和步骤的落实问题。因此，美国党派、国会之争并不会动摇美国国家战略，最终将回归美国国家利益需要。

During its history, the subject of U.S. debt has frightened, yet not
endangered. The crucial point of the latest outcome can be related
to America's extremely marked national predisposition as well as
the U.S. dollar's extremely powerful and predominant position.

Since 1960, the U.S.A. have already raised the upper limit of debt
for 78 times, furthermore, each case brought to an end in just a
moment. This time, both U.S. parties will most possibly demonstrate
a view of [established] practice and experience, as America doesn't
know that facade of " everyone beating himself ". After the [time
of] abundance, [they would] finally know how to reach a compromise
in order to raise the debt ceiling. The possibility for that being
relatively great, it remains but a question of procedures and [single]
steps to solve that problem.

Therefore, no controversy within America's political parties and the
Congress could ever shake America's national strategy. In the end,
it would return to America's national benefits and needs.

A PDF file of the cited website has been added in order to enable
interested readers to get access to the original text in Chinese.
All translations on this blogspot have been realized by Ulysses
(W.W.).