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18 May 2018

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Especially interestingly in view of the cancellation of the Iran anti-nuclear deal by Trump is the news that China is building Indian Ocean military base at Jiwani in the Gulf of Oman (reported at www.washingtontimes.com).

Would USA demand China agree to stop oil flows from Iran?

This new base along with those in Sri Lankan and at Djibouti are all necessary to secure its lifeline to its energy supplies.

Of course the USA is apparently still in hock to China by over trillion and that can be of concern in any trade war resulting from sanctions busting scenario.

Times they are a changing and not always for the better.

Globalism is the name we give to a system whereby corporate capitalism can run wild and free wherever it chooses.

This means that capitalists are free to exploit developing countries as a source of cheap labour to extract resources or manufacture consumer products which can then be sold very profitably in the so-called developed world.

Thus far, fuelled by astronomical levels of debt, this has all gone quite well.

Countries like South Korea, China, Thailand, Malaysia and so on have seen marked lifts in GDP, reductions in poverty and the rising of embryonic middle classes.

The downside has been felt in the so-called rust belts of Europe, the USA and Australia.

Not surprisingly, the losers in this process are embittered and resentful. Queue the rise of populists like Donald Trump and their fundamentally anti-globalist message.

China has so far managed this process pretty well. It has deftly ridden the globalisation boom and bought, borrowed or simply stolen the intellectual property and technology required to become what, in the 19th century, would have been described as a "first class power".

Taking a leaf from the classic democratic play book and with a nod to its long history as an imperial power, it has embarked upon a process of buying influence amongst those states whose ultimate role is to be that of vassals and tributaries.

This is what the belt and road philosophy is really about.

In the not too distant future, the debt fuelled expansion of the world's economy will reach a point where it collapses under its own weight. Who knows what the trigger for this will be? History suggests that the trigger will be entirely unforeseen by all but a few who will, or course, profit mightily from their insight.

The only certainty for PNG and many other heavily indebted nations besides is that their role be that of victims.

Beware Greeks bearing gifts is an old but apt adage that can be usefully applied to Chinese offers of largesse.

But I am what is called a "perma-bear" or glass half empty kind of guy, so urging caution is dismissed as undue pessimism. After all, what could possibly go wrong?

Tradition and history often dictates the shape of mindsets engaged in debate.

It should not go unnoticed that for China to succeed in its alleged initiatives (Belt and Road etc) the inputs of globalism should be recognised.

The world is moving toward forms of governance and control resisted by traditionalists but subscribed to by devotees of One Worldism.

It's the likes of George Soros and his ilk who openly influence developing "Open Borders" strategies that flies in the face of preserving sovereign borders and the relative stability derived thereby.

China could not have initiated their endeavors without the cooperation and participation of Western business and political interests.

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